4,830 Shares in Fifth Third Bancorp (NASDAQ:FITB) Acquired by Tanager Wealth Management LLP

Tanager Wealth Management LLP acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 4,830 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hexagon Capital Partners LLC grew its stake in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 312 shares in the last quarter. American Capital Advisory LLC purchased a new position in shares of Fifth Third Bancorp during the second quarter valued at about $34,000. Centerpoint Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 750 shares during the last quarter. Family Firm Inc. purchased a new stake in shares of Fifth Third Bancorp in the second quarter worth about $52,000. Finally, West Oak Capital LLC bought a new position in Fifth Third Bancorp during the third quarter valued at approximately $68,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.5 %

Shares of FITB opened at $43.87 on Thursday. The firm has a fifty day moving average price of $42.40 and a 200-day moving average price of $39.27. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $30.01 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a 12-month low of $22.49 and a 12-month high of $45.71.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. Fifth Third Bancorp’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. Equities research analysts expect that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a yield of 3.37%. Fifth Third Bancorp’s payout ratio is 46.98%.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares in the company, valued at approximately $4,805,724. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on FITB shares. Argus upped their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. StockNews.com raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Monday. Jefferies Financial Group lifted their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Morgan Stanley boosted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.28.

Fifth Third Bancorp 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.