Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Future Financial Wealth Managment LLC

Future Financial Wealth Managment LLC decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 18.3% during the first quarter, HoldingsChannel reports. The firm owned 3,116 shares of the financial services provider’s stock after selling 699 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in Fifth Third Bancorp were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in shares of Fifth Third Bancorp by 16.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 261 shares during the period. Blue Trust Inc. boosted its position in Fifth Third Bancorp by 33.9% in the fourth quarter. Blue Trust Inc. now owns 9,035 shares of the financial services provider’s stock valued at $387,000 after buying an additional 2,286 shares during the last quarter. Caprock Group LLC increased its holdings in Fifth Third Bancorp by 17.0% in the 4th quarter. Caprock Group LLC now owns 13,045 shares of the financial services provider’s stock worth $557,000 after buying an additional 1,891 shares during the period. Austin Private Wealth LLC raised its position in Fifth Third Bancorp by 13.3% during the 4th quarter. Austin Private Wealth LLC now owns 6,181 shares of the financial services provider’s stock worth $261,000 after buying an additional 725 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Fifth Third Bancorp by 4.3% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,459 shares of the financial services provider’s stock worth $907,000 after buying an additional 876 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays cut their price objective on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Baird R W raised Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. Stephens reiterated an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Jefferies Financial Group started coverage on Fifth Third Bancorp in a research note on Wednesday, May 21st. They issued a “buy” rating and a $47.00 target price on the stock. Finally, Cowen started coverage on Fifth Third Bancorp in a research report on Wednesday, May 14th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $38.08 on Monday. The firm has a market cap of $25.42 billion, a PE ratio of 12.13, a PEG ratio of 1.42 and a beta of 0.89. The firm has a fifty day moving average of $36.73 and a 200 day moving average of $41.18. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same quarter last year, the business earned $0.70 earnings per share. As a group, research analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp’s payout ratio is 46.98%.

Fifth Third Bancorp 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.