Retireful LLC Invests $987,000 in Fifth Third Bancorp (NASDAQ:FITB)

Retireful LLC purchased a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,041 shares of the financial services provider’s stock, valued at approximately $987,000.

A number of other hedge funds have also recently made changes to their positions in FITB. Bailard Inc. grew its position in Fifth Third Bancorp by 0.5% in the 2nd quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock valued at $1,885,000 after acquiring an additional 264 shares during the last quarter. SVB Wealth LLC boosted its position in 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 buying an additional 283 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Fifth Third Bancorp by 3.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 300 shares in the last quarter. Signaturefd LLC increased its position in shares of Fifth Third Bancorp by 2.6% during the second quarter. Signaturefd LLC now owns 12,424 shares of the financial services provider’s stock worth $453,000 after acquiring an additional 314 shares during the period. Finally, Lcnb Corp raised its stake in shares of Fifth Third Bancorp by 1.7% during the fourth quarter. Lcnb Corp now owns 19,077 shares of the financial services provider’s stock valued at $658,000 after acquiring an additional 319 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Up 1.2 %

Shares of NASDAQ:FITB traded up $0.50 during mid-day trading on Friday, reaching $42.69. 3,351,701 shares of the company were exchanged, compared to its average volume of 3,678,841. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $42.91. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day simple moving average is $39.54 and its 200 day simple moving average is $37.32. The firm has a market cap of $29.20 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 2.01 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same quarter in the prior year, the business earned $0.87 earnings per share. Equities research analysts forecast that Fifth Third Bancorp will post 3.3 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Friday, June 28th. Fifth Third Bancorp’s payout ratio is 44.44%.

Wall Street Analyst Weigh In

FITB has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Jefferies Financial Group increased their target price on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Stephens reaffirmed an “equal weight” rating and set a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. StockNews.com raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Argus raised their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.56.

Insider Activity at Fifth Third Bancorp

In related news, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the transaction, the director now directly owns 20,961 shares in the company, valued at $863,802.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares in the company, valued at approximately $863,802.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the transaction, the executive vice president now owns 125,087 shares of the company’s stock, valued at approximately $5,224,883.99. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,500 shares of company stock worth $2,269,920. Corporate insiders own 0.50% of the company’s stock.

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.