Brooklyn Investment Group Increases Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Brooklyn Investment Group grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 9.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,093 shares of the financial services provider’s stock after buying an additional 257 shares during the quarter. Brooklyn Investment Group’s holdings in Fifth Third Bancorp were worth $131,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Venturi Wealth Management LLC lifted its stake in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 316 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth about $36,000. Hexagon Capital Partners LLC boosted its stake in shares of 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 valued at $37,000 after purchasing an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Fifth Third Bancorp during the third quarter valued at about $39,000. Finally, Versant Capital Management Inc raised its stake in Fifth Third Bancorp by 232.0% in the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the financial services provider’s stock worth $43,000 after buying an additional 703 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $44.34 on Friday. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The stock has a 50-day moving average of $45.02 and a 200 day moving average of $42.82. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $29.73 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.79 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.31 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.34%. Fifth Third Bancorp’s payout ratio is 49.17%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the 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 owns 55,913 shares in the company, valued at $2,441,720.71. This represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FITB shares. Morgan Stanley upped their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Evercore ISI upped their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Barclays upped their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $45.92.

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.