Gladstone Institutional Advisory LLC Acquires Shares of 14,753 Fifth Third Bancorp (NASDAQ:FITB)

Gladstone Institutional Advisory LLC bought a new position in Fifth Third Bancorp (NASDAQ:FITB) during the third quarter, Holdings Channel reports. The fund bought 14,753 shares of the financial services provider’s stock, valued at approximately $632,000.

Several other institutional investors also recently modified their holdings of the business. American Capital Advisory LLC purchased a new position in Fifth Third Bancorp during the second quarter valued at $34,000. Hexagon Capital Partners LLC raised its position in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the last quarter. Family Firm Inc. bought a new position in Fifth Third Bancorp in the 2nd quarter worth about $52,000. Abich Financial Wealth Management LLC grew its position in Fifth Third Bancorp by 1,787.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,269 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Fifth Third Bancorp by 130.6% during the 2nd quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock valued at $60,000 after purchasing an additional 914 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FITB. Morgan Stanley upped their target price on shares of 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. Argus increased their target price on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Evercore ISI lifted their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Bank of America lifted their price objective on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.28.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now directly owns 114,422 shares in the company, valued at $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Down 1.2 %

Shares of FITB stock opened at $43.14 on Monday. The company has a 50 day simple moving average of $42.81 and a two-hundred day simple moving average of $39.74. The stock has a market cap of $29.20 billion, a P/E ratio of 14.33, a P/E/G ratio of 2.09 and a beta of 1.21. Fifth Third Bancorp has a 12 month low of $24.02 and a 12 month high of $45.71. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 earnings per share. On average, research analysts expect that Fifth Third Bancorp will post 3.33 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.43%. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

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.