Oppenheimer & Co. Inc. Has $3.16 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Oppenheimer & Co. Inc. lowered its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 73,806 shares of the financial services provider’s stock after selling 1,580 shares during the period. Oppenheimer & Co. Inc.’s holdings in Fifth Third Bancorp were worth $3,162,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Venturi Wealth Management LLC lifted its position in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the period. American Capital Advisory LLC bought a new position in shares of Fifth Third Bancorp during the 2nd quarter worth about $34,000. Hexagon Capital Partners LLC grew its stake in Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 312 shares during the period. Family Firm Inc. acquired a new stake in Fifth Third Bancorp in the 2nd quarter valued at $52,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at about $53,000. 83.79% of the stock is owned by institutional investors.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. This trade represents a 14.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

FITB has been the subject of several recent research reports. Morgan Stanley upped their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Argus boosted their price objective 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. Evercore ISI boosted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.09.

Fifth Third Bancorp Stock Down 0.6 %

Shares of FITB opened at $46.99 on Friday. Fifth Third Bancorp has a 1 year low of $26.89 and a 1 year high of $48.10. The firm has a market cap of $31.51 billion, a P/E ratio of 15.61, a P/E/G ratio of 2.26 and a beta of 1.21. The stock has a 50 day simple moving average of $43.49 and a two-hundred day simple moving average of $40.29. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last issued its 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). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the company earned $0.92 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. On average, analysts forecast that Fifth Third Bancorp will post 3.34 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a dividend yield of 3.15%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

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.