First Horizon Advisors Inc. Buys 909 Shares of Fifth Third Bancorp (NASDAQ:FITB)

First Horizon Advisors Inc. lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 22.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,951 shares of the financial services provider’s stock after acquiring an additional 909 shares during the quarter. First Horizon Advisors Inc.’s holdings in Fifth Third Bancorp were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Shell Asset Management Co. boosted its stake in shares of Fifth Third Bancorp by 261.3% in the 1st quarter. Shell Asset Management Co. now owns 12,313 shares of the financial services provider’s stock valued at $458,000 after purchasing an additional 8,905 shares during the last quarter. EP Wealth Advisors LLC boosted its position in Fifth Third Bancorp by 20.5% during the first quarter. EP Wealth Advisors LLC now owns 9,044 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 1,539 shares during the last quarter. BOKF NA raised its position in shares of Fifth Third Bancorp by 2,563.3% in the 1st quarter. BOKF NA now owns 43,492 shares of the financial services provider’s stock worth $1,596,000 after acquiring an additional 41,859 shares in the last quarter. SVB Wealth LLC lifted its stake in shares of Fifth Third Bancorp by 3.8% in the 1st quarter. SVB Wealth LLC now owns 7,721 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 283 shares during the period. Finally, Black Maple Capital Management LP boosted its position in shares of Fifth Third Bancorp by 276.7% during the 1st quarter. Black Maple Capital Management LP now owns 186,200 shares of the financial services provider’s stock valued at $6,929,000 after purchasing an additional 136,770 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction dated 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 owns 114,422 shares in the company, valued at approximately $4,805,724. This trade represents a 14.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were 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 approximately $2,441,720.71. The trade was a 11.83 % 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 Up 1.7 %

FITB opened at $47.90 on Friday. Fifth Third Bancorp has a fifty-two week low of $26.89 and a fifty-two week high of $48.10. The firm has a market capitalization of $32.12 billion, a P/E ratio of 15.91, a PEG ratio of 2.22 and a beta of 1.21. The company’s 50-day moving average is $44.17 and its 200 day moving average is $40.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. Research analysts expect that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

Analysts Set New Price Targets

FITB has been the subject of a number of research analyst reports. Citigroup lifted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday. Wells Fargo & Company boosted their target price 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. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. 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 report on Monday, October 21st. Finally, Morgan Stanley boosted their target price on 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.62.

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.