TFB Advisors LLC Invests $223,000 in Fifth Third Bancorp (NASDAQ:FITB)

TFB Advisors LLC purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,207 shares of the financial services provider’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Capital Advisory LLC acquired a new position in Fifth Third Bancorp during the second quarter valued at approximately $34,000. Hexagon Capital Partners LLC lifted its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares in the last quarter. Family Firm Inc. bought a new position in Fifth Third Bancorp in the second quarter valued at approximately $52,000. Catalyst Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the third quarter worth $53,000. Finally, Abich Financial Wealth Management LLC raised its holdings in shares of Fifth Third Bancorp by 1,787.3% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,269 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the sale, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Stock Up 0.7 %

Shares of FITB opened at $46.26 on Friday. The company has a market cap of $31.31 billion, a PE ratio of 15.37, a P/E/G ratio of 2.05 and a beta of 1.21. The business has a fifty day moving average of $43.09 and a 200 day moving average of $40.00. Fifth Third Bancorp has a 52-week low of $24.64 and a 52-week high of $46.90. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. On average, sell-side analysts expect that Fifth Third Bancorp will post 3.33 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.37 dividend. The ex-dividend date was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.20%. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Analyst Ratings Changes

Several research firms have weighed in on FITB. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Bank of America increased their price objective on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Argus boosted their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Evercore ISI raised their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $42.28.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.