HORAN Wealth LLC Takes $249,000 Position in Fifth Third Bancorp $FITB

HORAN Wealth LLC purchased a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,044 shares of the financial services provider’s stock, valued at approximately $249,000.

A number of other institutional investors have also modified their holdings of FITB. Banque Transatlantique SA bought a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at about $27,000. Activest Wealth Management boosted its holdings in shares of Fifth Third Bancorp by 1,043.3% in the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after buying an additional 626 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Fifth Third Bancorp by 91.3% in the 1st quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider’s stock valued at $29,000 after buying an additional 357 shares in the last quarter. GoalVest Advisory LLC boosted its holdings in shares of Fifth Third Bancorp by 246.3% in the 2nd quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock valued at $31,000 after buying an additional 532 shares in the last quarter. Finally, BankPlus Trust Department boosted its holdings in shares of Fifth Third Bancorp by 53.0% in the 2nd quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock valued at $34,000 after buying an additional 290 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $42.51 on Thursday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The company has a 50 day simple moving average of $43.95 and a two-hundred day simple moving average of $41.55. The stock has a market cap of $28.14 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.14 and a beta of 0.95.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 17th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.87 by $0.06. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same period in the previous year, the business posted $0.78 EPS. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. As a group, analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.37. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.76%.

Insider Buying and Selling

In other Fifth Third Bancorp news, Director Evan Bayh acquired 3,000 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was acquired at an average cost of $41.22 per share, for a total transaction of $123,660.00. Following the purchase, the director owned 84,942 shares in the company, valued at approximately $3,501,309.24. The trade was a 3.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

FITB has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 23rd. Truist Financial boosted their target price on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. The Goldman Sachs Group boosted their target price on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Robert W. Baird boosted their target price on shares of Fifth Third Bancorp from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, October 2nd. Finally, TD Cowen boosted their target price on shares of Fifth Third Bancorp from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.35.

About Fifth Third Bancorp

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.