Sigma Planning Corp Raises Stock Holdings in Fifth Third Bancorp $FITB

Sigma Planning Corp lifted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 88.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,560 shares of the financial services provider’s stock after acquiring an additional 10,580 shares during the period. Sigma Planning Corp’s holdings in Fifth Third Bancorp were worth $1,272,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cullen Frost Bankers Inc. increased its stake in Fifth Third Bancorp by 4.6% in the fourth quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 187 shares during the period. Equitable Holdings Inc. boosted its stake in shares of Fifth Third Bancorp by 4.1% during the fourth quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock worth $232,000 after buying an additional 195 shares during the period. Basecamp Wealth Advisors LLC grew its holdings in shares of Fifth Third Bancorp by 5.5% during the first quarter. Basecamp Wealth Advisors LLC now owns 3,869 shares of the financial services provider’s stock worth $180,000 after buying an additional 201 shares during the last quarter. Koshinski Asset Management Inc. increased its position in Fifth Third Bancorp by 3.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 206 shares during the period. Finally, Legacy Wealth Managment LLC ID raised its stake in Fifth Third Bancorp by 19.2% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 1,319 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 212 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on FITB. Weiss Ratings raised Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, June 1st. Argus raised Fifth Third Bancorp to a “strong-buy” rating in a report on Wednesday, July 22nd. UBS Group lifted their price objective on shares of Fifth Third Bancorp from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Evercore set a $60.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, July 6th. Finally, Robert W. Baird upped their price objective on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.54.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $53.85 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. Fifth Third Bancorp has a one year low of $40.04 and a one year high of $59.50. The firm has a market capitalization of $48.84 billion, a P/E ratio of 18.07, a PEG ratio of 1.09 and a beta of 0.91. The company’s fifty day moving average is $56.74 and its two-hundred day moving average is $51.99.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the firm posted $0.88 EPS. The firm’s quarterly revenue was up 45.8% on a year-over-year basis. Analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.60 annualized dividend and a yield of 3.0%. Fifth Third Bancorp’s payout ratio is currently 54.61%.

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.