First National Trust Co Buys 2,104 Shares of Fifth Third Bancorp (NASDAQ:FITB)

First National Trust Co grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 54,448 shares of the financial services provider’s stock after acquiring an additional 2,104 shares during the period. First National Trust Co’s holdings in Fifth Third Bancorp were worth $1,878,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of FITB. Benjamin F. Edwards & Company Inc. raised its stake in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 300 shares during the last quarter. Independence Bank of Kentucky raised its position 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 purchasing an additional 355 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in Fifth Third Bancorp by 3.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 11,391 shares of the financial services provider’s stock worth $289,000 after buying an additional 389 shares during the period. Vicus Capital lifted its holdings in Fifth Third Bancorp by 4.1% during the 4th quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock worth $344,000 after buying an additional 397 shares during the period. Finally, Advisory Resource Group grew its position in shares of Fifth Third Bancorp by 0.4% in the 4th quarter. Advisory Resource Group now owns 116,918 shares of the financial services provider’s stock valued at $4,033,000 after buying an additional 435 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 1.8 %

FITB traded up $0.67 during mid-day trading on Friday, reaching $37.56. 4,007,014 shares of the stock were exchanged, compared to its average volume of 4,768,773. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.77. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $25.58 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.24. The company has a 50 day moving average price of $35.79 and a two-hundred day moving average price of $32.56.

Fifth Third Bancorp (NASDAQ:FITB) last released 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. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the firm earned $0.78 earnings per share. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 44.44%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FITB. Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. 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. Robert W. Baird reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $37.50 to $39.50 in a research note on Wednesday. Finally, Evercore ISI upped their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $36.50.

Insider Buying and Selling

In other news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO James C. Leonard sold 26,500 shares of the 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 completion of the transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,857 shares of company stock worth $1,787,638. 0.50% of the stock is owned by company 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.