B. Riley Wealth Advisors Inc. Trims Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

B. Riley Wealth Advisors Inc. cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,986 shares of the financial services provider’s stock after selling 1,022 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Fifth Third Bancorp were worth $943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jupiter Asset Management Ltd. purchased a new stake in Fifth Third Bancorp in the second quarter valued at approximately $33,337,000. Charles Schwab Investment Management Inc. raised its holdings in Fifth Third Bancorp by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after purchasing an additional 732,651 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth about $28,490,000. Millennium Management LLC boosted its stake in shares of Fifth Third Bancorp by 896.7% during the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after purchasing an additional 583,781 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Fifth Third Bancorp by 76.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock worth $57,005,000 after buying an additional 575,449 shares during the period. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FITB. Evercore ISI raised their price objective on 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. Wells Fargo & Company increased their price objective 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. Morgan Stanley upped 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 research note on Monday, September 30th. Citigroup upped their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.81.

Fifth Third Bancorp Stock Down 1.2 %

Shares of NASDAQ:FITB opened at $45.05 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The business’s 50 day moving average is $45.67 and its 200 day moving average is $41.82. The stock has a market cap of $30.21 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-week high of $49.07.

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 analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. Sell-side analysts predict that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.29%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by insiders.

About Fifth Third Bancorp

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.