Rodgers & Associates LTD Invests $207,000 in Fifth Third Bancorp (NASDAQ:FITB)

Rodgers & Associates LTD purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 6,000 shares of the financial services provider’s stock, valued at approximately $207,000.

Several other institutional investors also recently modified their holdings of FITB. Boston Partners grew its holdings in Fifth Third Bancorp by 32.1% during the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock valued at $331,188,000 after purchasing an additional 3,176,903 shares during the period. Smead Capital Management Inc. acquired a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $67,354,000. Invesco Ltd. grew its holdings in Fifth Third Bancorp by 8.4% during the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock valued at $492,117,000 after purchasing an additional 1,500,653 shares during the period. Barclays PLC grew its holdings in Fifth Third Bancorp by 66.0% during the third quarter. Barclays PLC now owns 2,307,073 shares of the financial services provider’s stock valued at $58,437,000 after purchasing an additional 917,549 shares during the period. Finally, Kettle Hill Capital Management LLC acquired a new position in Fifth Third Bancorp during the third quarter valued at approximately $12,625,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a report on Monday. Royal Bank of Canada upped their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. UBS Group reiterated a “neutral” rating and issued a $39.00 price target (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Stephens reiterated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.31.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB traded down $0.41 on Thursday, hitting $36.82. The company had a trading volume of 2,832,217 shares, compared to its average volume of 5,437,124. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 1.40 and a beta of 1.27. The stock has a 50 day moving average price of $35.48 and a 200 day moving average price of $32.13. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the company earned $0.78 earnings per share. Analysts expect that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.80%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the stock in a transaction dated 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. Over the last three months, insiders have sold 46,357 shares of company stock worth $1,693,888. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp 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.