Centennial Wealth Advisory LLC Grows Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Centennial Wealth Advisory LLC lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.2% during the third quarter, Holdings Channel reports. The institutional investor owned 9,691 shares of the financial services provider’s stock after acquiring an additional 297 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Fifth Third Bancorp were worth $415,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Greenwood Capital Associates LLC bought a new position in Fifth Third Bancorp in the 3rd quarter worth about $981,000. Catalyst Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $53,000. QRG Capital Management Inc. lifted its stake in shares of Fifth Third Bancorp by 15.1% in the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Fifth Third Bancorp by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 257,478 shares of the financial services provider’s stock worth $11,030,000 after purchasing an additional 879 shares during the period. Finally, National Pension Service lifted its stake in shares of Fifth Third Bancorp by 12.6% in the 3rd quarter. National Pension Service now owns 1,156,562 shares of the financial services provider’s stock worth $49,547,000 after purchasing an additional 129,226 shares during the period. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on FITB. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Royal Bank of Canada upped their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Evercore ISI increased 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. Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Argus raised their price target 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $42.28.

Insider Activity

In other news, EVP Jude Schramm sold 20,000 shares of the business’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 transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

FITB traded up $2.43 on Wednesday, hitting $45.59. 466,385 shares of the company’s stock were exchanged, compared to its average volume of 4,591,437. Fifth Third Bancorp has a fifty-two week low of $24.64 and a fifty-two week high of $46.28. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $42.85 and a 200-day moving average price of $39.84. The stock has a market cap of $30.86 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 2.07 and a beta of 1.21.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm earned $0.92 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.33 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.37 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.25%. Fifth Third Bancorp’s payout ratio is presently 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.