McGlone Suttner Wealth Management Inc. Acquires New Shares in Fifth Third Bancorp (NASDAQ:FITB)

McGlone Suttner Wealth Management Inc. bought a new position in Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 7,472 shares of the financial services provider’s stock, valued at approximately $258,000.

A number of other institutional investors have also added to or reduced their stakes in FITB. Fairfield Bush & CO. increased its stake in Fifth Third Bancorp by 1.4% in the 1st quarter. Fairfield Bush & CO. now owns 36,482 shares of the financial services provider’s stock worth $1,570,000 after acquiring an additional 502 shares during the last quarter. Aviva PLC boosted its holdings in shares of Fifth Third Bancorp by 22.0% in the 1st quarter. Aviva PLC now owns 255,764 shares of the financial services provider’s stock worth $11,008,000 after purchasing an additional 46,064 shares in the last quarter. Prudential PLC purchased a new position in shares of Fifth Third Bancorp in the 1st quarter worth about $754,000. Cetera Investment Advisers boosted its holdings in shares of Fifth Third Bancorp by 13.0% in the 1st quarter. Cetera Investment Advisers now owns 54,958 shares of the financial services provider’s stock worth $2,365,000 after purchasing an additional 6,341 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in shares of Fifth Third Bancorp by 60.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 121,378 shares of the financial services provider’s stock worth $5,224,000 after purchasing an additional 45,910 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Up 1.3 %

Shares of NASDAQ:FITB traded up $0.47 during trading on Thursday, hitting $37.21. The stock had a trading volume of 5,183,851 shares, compared to its average volume of 5,634,350. Fifth Third Bancorp has a 12 month low of $22.46 and a 12 month high of $37.41. The company has a market capitalization of $25.35 billion, a PE ratio of 11.52, a PEG ratio of 1.38 and a beta of 1.26. The firm’s fifty day moving average is $34.75 and its 200 day moving average is $30.72. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter in the prior year, the company earned $1.04 EPS. Analysts anticipate that Fifth Third Bancorp will post 3.17 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 43.34%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the 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 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares in the company, valued at $5,072,172.36. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Evercore ISI increased their target price on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday. UBS Group increased their target price on Fifth Third Bancorp from $40.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, January 23rd. Morgan Stanley increased their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Finally, Barclays increased their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and an average price target of $35.72.

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.