Marks Group Wealth Management Inc Sells 1,400 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Marks Group Wealth Management Inc decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 12.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,065 shares of the financial services provider’s stock after selling 1,400 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Fifth Third Bancorp were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at approximately $34,000. Hexagon Capital Partners LLC increased its holdings 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 in the last quarter. Family Firm Inc. purchased a new position in Fifth Third Bancorp in the 2nd quarter worth about $52,000. Catalyst Capital Advisors LLC purchased a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $53,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of 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 buying an additional 1,269 shares during the period. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

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

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $46.87 on Thursday. The firm has a market cap of $31.72 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.05 and a beta of 1.21. Fifth Third Bancorp has a 12-month low of $24.64 and a 12-month high of $46.90. The company’s 50 day simple moving average is $42.95 and its 200-day simple moving average is $39.89. 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 released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 14.58% and a net margin of 16.58%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. As a group, equities analysts predict that Fifth Third Bancorp will post 3.33 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.37 per share. The ex-dividend date was Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.16%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

Wall Street Analysts Forecast Growth

FITB has been the topic of several analyst reports. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Royal Bank of Canada lifted their price objective on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Argus upped their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Bank of America raised their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus target price of $42.28.

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.