NSI Retail Advisors LLC Invests $756,000 in Fifth Third Bancorp (NASDAQ:FITB)

NSI Retail Advisors LLC bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, Holdings Channel.com reports. The fund bought 19,787 shares of the financial services provider’s stock, valued at approximately $756,000.

Other institutional investors have also added to or reduced their stakes in the company. MUFG Americas Holdings Corp acquired a new position in Fifth Third Bancorp in the second quarter valued at $29,000. WASHINGTON TRUST Co purchased a new stake in Fifth Third Bancorp during the second quarter valued at about $33,000. Evermay Wealth Management LLC purchased a new stake in Fifth Third Bancorp during the second quarter valued at about $46,000. Clear Perspectives Financial Planning LLC grew its position in Fifth Third Bancorp by 97.9% during the second quarter. Clear Perspectives Financial Planning LLC now owns 1,415 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 700 shares during the period. Finally, Pflug Koory LLC purchased a new stake in shares of Fifth Third Bancorp in the second quarter worth about $61,000. Hedge funds and other institutional investors own 80.25% of the company’s stock.

In related news, EVP Robert P. Shaffer sold 6,372 shares of the stock in a transaction on Wednesday, September 8th. The stock was sold at an average price of $38.41, for a total transaction of $244,748.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Shares of FITB traded down $0.17 during mid-day trading on Wednesday, reaching $44.62. The company’s stock had a trading volume of 21,236 shares, compared to its average volume of 5,312,349. The business has a fifty day moving average of $40.33 and a 200 day moving average of $39.54. The company has a market cap of $30.82 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.28 and a beta of 1.55. Fifth Third Bancorp has a 1 year low of $22.10 and a 1 year high of $45.92. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Monday, October 18th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. Fifth Third Bancorp had a return on equity of 13.03% and a net margin of 31.30%. During the same period last year, the company earned $0.85 earnings per share. On average, analysts predict that Fifth Third Bancorp will post 3.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 15th. Investors of record on Thursday, September 30th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.69%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Wednesday, September 29th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 55.56%.

A number of brokerages recently commented on FITB. Argus increased their price target on Fifth Third Bancorp from $42.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 20th. Keefe, Bruyette & Woods cut Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 7th. Stephens increased their price target on Fifth Third Bancorp from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 20th. Barclays increased their price target on Fifth Third Bancorp from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 20th. Finally, Morgan Stanley increased their price objective on Fifth Third Bancorp from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Buy” and a consensus target price of $43.18.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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