GAMMA Investing LLC Purchases Shares of 5,799 Fifth Third Bancorp (NASDAQ:FITB)

GAMMA Investing LLC acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,799 shares of the financial services provider’s stock, valued at approximately $199,000.

Other large investors have also made changes to their positions in the company. GoalVest Advisory LLC boosted its holdings in shares of Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares during the last quarter. Denali Advisors LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $36,000. Financial Management Professionals Inc. boosted its holdings in Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,000 shares in the last quarter. Authentikos Wealth Advisory LLC purchased a new stake in Fifth Third Bancorp during the third quarter worth $46,000. Finally, Friedenthal Financial purchased a new position in Fifth Third Bancorp during the fourth quarter valued at $48,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,357 shares of company stock valued at $1,693,888. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FITB has been the topic of several recent analyst reports. Royal Bank of Canada increased their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Evercore ISI raised their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a research note on Monday. DA Davidson lifted their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Wells Fargo & Company lifted their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.31.

Fifth Third Bancorp Trading Down 1.1 %

NASDAQ FITB opened at $36.82 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.41. The company’s 50 day moving average price is $35.48 and its 200 day moving average price is $32.13. The firm has a market capitalization of $25.08 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.41 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same period last year, the business posted $0.78 earnings per share. On average, sell-side analysts predict that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.80%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

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.