Western Wealth Management LLC Buys New Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Western Wealth Management LLC bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,191 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other large investors have also modified their holdings of the company. CWM LLC raised its stake in Fifth Third Bancorp by 8.7% during the third quarter. CWM LLC now owns 27,550 shares of the financial services provider’s stock worth $698,000 after acquiring an additional 2,195 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Fifth Third Bancorp by 322.0% during the third quarter. Geneos Wealth Management Inc. now owns 1,730 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 1,320 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Fifth Third Bancorp by 6.2% during the third quarter. IFP Advisors Inc now owns 26,620 shares of the financial services provider’s stock worth $674,000 after purchasing an additional 1,560 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Fifth Third Bancorp by 46.3% during the third quarter. Global Retirement Partners LLC now owns 3,147 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 996 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Fifth Third Bancorp by 3.7% during the third quarter. SG Americas Securities LLC now owns 40,267 shares of the financial services provider’s stock worth $1,020,000 after purchasing an additional 1,442 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Insiders have sold a total of 46,357 shares of company stock valued at $1,693,888 over the last 90 days. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company increased their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Barclays increased their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Stephens restated an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Evercore ISI raised their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price target (up previously from $39.00) on shares of Fifth Third Bancorp in a report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $36.31.

Fifth Third Bancorp Trading Up 0.8 %

NASDAQ:FITB opened at $36.55 on Tuesday. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41. The business’s 50-day moving average price is $35.26 and its two-hundred day moving average price is $31.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $24.90 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.38 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter in the prior year, the firm posted $0.78 earnings per share. On average, equities analysts expect that Fifth Third Bancorp will post 3.19 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Fifth Third Bancorp Company 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.