Fifth Third Bancorp $FITB Stock Bought by Vise Technologies Inc.

Vise Technologies Inc. lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 38.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 36,945 shares of the financial services provider’s stock after purchasing an additional 10,231 shares during the period. Vise Technologies Inc.’s holdings in Fifth Third Bancorp were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Unison Advisors LLC lifted its position in shares of Fifth Third Bancorp by 0.7% in the third quarter. Unison Advisors LLC now owns 108,771 shares of the financial services provider’s stock worth $5,547,000 after buying an additional 750 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Fifth Third Bancorp by 379.7% during the third quarter. International Assets Investment Management LLC now owns 40,931 shares of the financial services provider’s stock valued at $2,070,000 after buying an additional 32,399 shares during the last quarter. Cranbrook Wealth Management LLC boosted its stake in Fifth Third Bancorp by 1,659.7% during the third quarter. Cranbrook Wealth Management LLC now owns 38,872 shares of the financial services provider’s stock valued at $1,966,000 after buying an additional 36,663 shares during the last quarter. Childress Capital Advisors LLC purchased a new position in Fifth Third Bancorp during the 3rd quarter valued at approximately $230,000. Finally, Shakespeare Wealth Management LLC purchased a new position in Fifth Third Bancorp during the 3rd quarter valued at approximately $1,127,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Monday, October 26th. The stock was sold at an average price of $53.14, for a total transaction of $1,062,800.00. Following the completion of the transaction, the executive vice president directly owned 121,460 shares of the company’s stock, valued at approximately $6,454,384.40. The trade was a 14.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America lifted their price target on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Wolfe Research initiated coverage on Fifth Third Bancorp in a research note on Tuesday, October 27th. They issued an “outperform” rating on the stock. DA Davidson raised their price objective on Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods raised their price objective on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Finally, Royal Bank Of Canada decreased their target price on Fifth Third Bancorp from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $60.87.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $53.39 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50 day simple moving average is $52.69 and its 200-day simple moving average is $52.14. The company has a market cap of $48.42 billion, a PE ratio of 17.92, a price-to-earnings-growth ratio of 1.09 and a beta of 0.98. Fifth Third Bancorp has a 1-year low of $40.68 and a 1-year high of $59.50.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Monday, October 19th. The financial services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $0.86 by $0.27. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same period last year, the business posted $0.91 earnings per share. The company’s quarterly revenue was up 42.4% on a year-over-year basis. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 4.10 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a dividend of $0.42 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.68 dividend on an annualized basis and a yield of 3.1%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.40. Fifth Third Bancorp’s dividend payout ratio (DPR) is 57.53%.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. Its principal subsidiary, Fifth Third Bank, provides banking and financial services to individuals, businesses, government entities and institutional clients.

The company’s offerings include checking and savings accounts, consumer and commercial lending, mortgages, credit and debit cards, treasury management, cash management and payment-processing services. Through its wealth and asset management businesses, Fifth Third also provides investment management, brokerage, trust, private banking and financial planning services.

Fifth Third primarily serves customers across the Midwest and Southeast, with a branch and banking-center network spanning states including Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee and West Virginia.