Coldstream Capital Management Inc. Boosts Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Coldstream Capital Management Inc. increased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 4.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,466 shares of the financial services provider’s stock after buying an additional 875 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Fifth Third Bancorp were worth $967,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its holdings in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in Fifth Third Bancorp during the third quarter valued at approximately $36,000. Hexagon Capital Partners LLC lifted its holdings in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp during the third quarter valued at approximately $39,000. Finally, American Capital Advisory LLC purchased a new position in Fifth Third Bancorp during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Evercore ISI boosted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Morgan Stanley boosted 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 report on Monday, September 30th. Barclays boosted their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Citigroup boosted their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus price target of $44.81.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on 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 sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was 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. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Down 0.6 %

FITB stock opened at $45.53 on Friday. 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 has a twelve month low of $30.47 and a twelve month high of $49.07. The stock has a market capitalization of $30.53 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 2.26 and a beta of 1.22. The firm’s fifty day simple moving average is $45.39 and its two-hundred day simple moving average is $41.55.

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). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the firm earned $0.92 EPS. The company’s revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) 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.