IHT Wealth Management LLC Increases Holdings in Fifth Third Bancorp (NASDAQ:FITB)

IHT Wealth Management LLC increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 57.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,795 shares of the financial services provider’s stock after purchasing an additional 4,683 shares during the period. IHT Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC boosted its position in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the period. Hexagon Capital Partners LLC boosted its position in Fifth Third Bancorp by 56.9% during 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 period. MidAtlantic Capital Management Inc. purchased a new stake in Fifth Third Bancorp during the 3rd quarter worth $39,000. American Capital Advisory LLC purchased a new position in Fifth Third Bancorp in the 2nd quarter valued at about $34,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Fifth Third Bancorp in the 3rd quarter valued at about $53,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FITB shares. Evercore ISI upped their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Citigroup upped their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley upped their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Barclays upped their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $44.81.

Fifth Third Bancorp Price Performance

FITB opened at $47.21 on Friday. The firm has a market cap of $31.66 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.22. Fifth Third Bancorp has a fifty-two week low of $30.20 and a fifty-two week high of $49.07. The company’s 50-day moving average price is $45.15 and its 200 day moving average price is $41.36. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

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 for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. Fifth Third Bancorp’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.34 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. Investors of record on Monday, September 30th were paid a dividend of $0.37 per share. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.13%. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

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.