Eads & Heald Wealth Management Has $341,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)

Eads & Heald Wealth Management trimmed its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,966 shares of the financial services provider’s stock after selling 540 shares during the period. Eads & Heald Wealth Management’s holdings in Fifth Third Bancorp were worth $341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Quent Capital LLC raised its stake in shares of Fifth Third Bancorp by 9.9% in the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 248 shares during the last quarter. Diversified Trust Co raised its stake in shares of Fifth Third Bancorp by 2.6% in the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after acquiring an additional 259 shares during the last quarter. Bailard Inc. raised its stake in shares of Fifth Third Bancorp by 0.5% in the second quarter. Bailard Inc. now owns 51,657 shares of the financial services provider’s stock worth $1,885,000 after acquiring an additional 264 shares during the last quarter. Lockerman Financial Group Inc. raised its stake in shares of Fifth Third Bancorp by 3.9% in the third quarter. Lockerman Financial Group Inc. now owns 6,985 shares of the financial services provider’s stock worth $299,000 after acquiring an additional 264 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Fifth Third Bancorp by 2.0% in the second quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider’s stock worth $513,000 after acquiring an additional 278 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jude Schramm sold 20,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at $4,805,724. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Barclays boosted their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Bank of America boosted their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada boosted their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.28.

Fifth Third Bancorp Stock Down 1.2 %

Shares of NASDAQ:FITB opened at $43.14 on Friday. Fifth Third Bancorp has a 52 week low of $24.02 and a 52 week high of $45.71. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $29.20 billion, a PE ratio of 14.33, a PEG ratio of 2.11 and a beta of 1.22. The company has a 50 day moving average price of $42.81 and a two-hundred day moving average price of $39.66.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Analysts forecast that Fifth Third Bancorp will post 3.33 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is 49.17%.

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.