Fifth Third Bancorp $FITB Shares Purchased by Kestra Advisory Services LLC

Kestra Advisory Services LLC increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 56.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 197,769 shares of the financial services provider’s stock after purchasing an additional 71,589 shares during the period. Kestra Advisory Services LLC’s holdings in Fifth Third Bancorp were worth $9,188,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FITB. Harbor Investment Advisory LLC boosted its position in Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after buying an additional 517 shares during the period. Monetary Solutions Ltd purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $29,000. Leonteq Securities AG acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $30,000. Reflection Asset Management acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at $30,000. Finally, EFG International AG purchased a new position in Fifth Third Bancorp in the fourth quarter valued at $33,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Robert W. Baird boosted their target price on Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $54.00 price target (down from $57.00) on shares of Fifth Third Bancorp in a research report on Monday, March 30th. Morgan Stanley boosted their price objective on Fifth Third Bancorp from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Jefferies Financial Group upped their target price on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings raised shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $59.11.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the sale, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the sale, the executive vice president directly owned 76,299 shares of the company’s stock, valued at $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $57.19 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a 52 week low of $40.04 and a 52 week high of $58.51. The firm’s 50 day moving average is $52.37 and its two-hundred day moving average is $50.35. The firm has a market capitalization of $51.83 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.09 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.20. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. Research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. Fifth Third Bancorp’s payout ratio is 53.69%.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.