Fifth Third Bancorp (FITB) Stake Maintained by Private Wealth Advisors Inc.

Private Wealth Advisors Inc. continued to hold its position in Fifth Third Bancorp (NASDAQ:FITB) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,036 shares of the financial services provider’s stock at the end of the second quarter. Private Wealth Advisors Inc.’s holdings in Fifth Third Bancorp were worth $209,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FITB. Assetmark Inc. lifted its position in shares of Fifth Third Bancorp by 0.7% during the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 32 shares in the last quarter. Sterling Investment Advisors Ltd. lifted its position in shares of Fifth Third Bancorp by 20.8% during the first quarter. Sterling Investment Advisors Ltd. now owns 5,800 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,000 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its position in shares of Fifth Third Bancorp by 5.4% during the first quarter. YorkBridge Wealth Partners LLC now owns 5,816 shares of the financial services provider’s stock worth $142,000 after purchasing an additional 298 shares in the last quarter. Duncker Streett & Co. Inc. lifted its position in shares of Fifth Third Bancorp by 0.3% during the second quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 17 shares in the last quarter. Finally, Ullmann Financial Group Inc. acquired a new position in shares of Fifth Third Bancorp during the first quarter worth approximately $167,000. Hedge funds and other institutional investors own 79.58% of the company’s stock.

FITB has been the topic of a number of research reports. TheStreet lowered shares of Fifth Third Bancorp from a “b” rating to a “c+” rating in a research report on Friday, May 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $26.50 price objective on shares of Fifth Third Bancorp in a report on Friday, May 26th. BMO Capital Markets restated a “hold” rating and issued a $27.00 price objective on shares of Fifth Third Bancorp in a report on Friday, May 26th. Robert W. Baird upgraded shares of Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $24.00 price objective on the stock in a report on Monday, June 5th. Finally, BidaskClub upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company’s stock. Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $27.14.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 7,004 shares of the business’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $26.21, for a total transaction of $183,574.84. Following the completion of the sale, the executive vice president now owns 71,793 shares in the company, valued at approximately $1,881,694.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

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Fifth Third Bancorp (NASDAQ:FITB) opened at 27.31 on Friday. The company’s 50-day moving average is $26.47 and its 200 day moving average is $25.59. The firm has a market cap of $20.12 billion, a PE ratio of 13.84 and a beta of 1.36. Fifth Third Bancorp has a one year low of $19.57 and a one year high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.03. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.52 billion. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. Fifth Third Bancorp’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. Equities analysts anticipate that Fifth Third Bancorp will post $1.83 earnings per share for the current year.

Fifth Third Bancorp announced that its board has initiated a stock buyback program on Wednesday, June 28th that permits the company to repurchase $1.16 billion in shares. This repurchase authorization permits the financial services provider to buy up to 67% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.14. Fifth Third Bancorp’s payout ratio is 28.43%.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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