Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Paradigm Financial Partners LLC

Paradigm Financial Partners LLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,888 shares of the financial services provider’s stock after selling 2,050 shares during the period. Paradigm Financial Partners LLC’s holdings in Fifth Third Bancorp were worth $1,721,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in FITB. Independence Bank of Kentucky increased its stake in Fifth Third Bancorp by 21.1% during the 4th quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after buying an additional 355 shares during the period. Kingsview Wealth Management LLC boosted its holdings in shares of Fifth Third Bancorp by 3.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 11,391 shares of the financial services provider’s stock valued at $289,000 after buying an additional 389 shares during the period. Vicus Capital boosted its holdings in shares of Fifth Third Bancorp by 4.1% in the 4th quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock valued at $344,000 after buying an additional 397 shares during the period. Private Trust Co. NA boosted its stake in Fifth Third Bancorp by 24.3% during the 3rd quarter. Private Trust Co. NA now owns 2,083 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 407 shares during the period. Finally, Advisory Resource Group boosted its stake in Fifth Third Bancorp by 0.4% during the 4th quarter. Advisory Resource Group now owns 116,918 shares of the financial services provider’s stock valued at $4,033,000 after purchasing an additional 435 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Morgan Stanley reissued an “equal weight” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 22nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. DA Davidson boosted their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Finally, Robert W. Baird restated a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $36.31.

Insiders Place Their Bets

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, the executive vice president now directly owns 46,646 shares in the company, valued at approximately $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO James C. Leonard sold 26,500 shares of the firm’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 transaction of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares in the company, valued at $8,407,751.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,357 shares of company stock worth $1,693,888. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded up $0.08 during mid-day trading on Friday, reaching $36.90. 2,474,530 shares of the company were exchanged, compared to its average volume of 4,563,777. Fifth Third Bancorp has a 12 month low of $22.46 and a 12 month high of $37.41. The company has a fifty day moving average of $35.54 and a 200 day moving average of $32.27. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market cap of $25.13 billion, a PE ratio of 11.71, a PEG ratio of 1.40 and a beta of 1.27.

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

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a yield of 3.79%. Fifth Third Bancorp’s dividend payout ratio (DPR) 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.