Shoker Investment Counsel Inc. Buys 422 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Shoker Investment Counsel Inc. boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,945 shares of the financial services provider’s stock after purchasing an additional 422 shares during the quarter. Shoker Investment Counsel Inc.’s holdings in Fifth Third Bancorp were worth $512,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC increased its position in Fifth Third Bancorp by 9.9% during the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 248 shares during the last quarter. Diversified Trust Co increased its position in shares of Fifth Third Bancorp by 2.6% during the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock valued at $433,000 after purchasing 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 valued at $1,885,000 after acquiring an additional 264 shares during the period. Lockerman Financial Group Inc. lifted its stake in shares of Fifth Third Bancorp by 3.9% during the 3rd 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 boosted its stake in shares of Fifth Third Bancorp by 2.0% during the second quarter. Ballentine Partners LLC now owns 14,050 shares of the financial services provider’s stock valued at $513,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

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

Fifth Third Bancorp Stock Up 0.7 %

NASDAQ:FITB opened at $46.26 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $31.31 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 2.05 and a beta of 1.21. Fifth Third Bancorp has a 52 week low of $24.64 and a 52 week high of $46.90. The stock has a 50 day moving average of $43.09 and a 200-day moving average of $40.00.

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

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.20%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp’s payout ratio is currently 49.17%.

Analysts Set New Price Targets

Several analysts have recently weighed in on FITB shares. Bank of America lifted their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Evercore ISI boosted their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley boosted their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Argus boosted their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.28.

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.