Applied Capital LLC FL Sells 447 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Applied Capital LLC FL cut its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,923 shares of the financial services provider’s stock after selling 447 shares during the period. Fifth Third Bancorp accounts for 1.4% of Applied Capital LLC FL’s investment portfolio, making the stock its 27th largest holding. Applied Capital LLC FL’s holdings in Fifth Third Bancorp were worth $1,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FITB. Lockerman Financial Group Inc. grew its holdings in 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 period. Creative Planning boosted its position in shares of Fifth Third Bancorp by 1.8% during the 3rd quarter. Creative Planning now owns 236,317 shares of the financial services provider’s stock valued at $10,124,000 after purchasing an additional 4,116 shares in the last quarter. Stablepoint Partners LLC grew its stake in Fifth Third Bancorp by 0.5% during the third quarter. Stablepoint Partners LLC now owns 108,661 shares of the financial services provider’s stock worth $4,655,000 after purchasing an additional 519 shares during the period. ORG Wealth Partners LLC bought a new stake in Fifth Third Bancorp in the third quarter worth approximately $90,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in Fifth Third Bancorp by 25.1% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 9,709 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 1,945 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity

In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now directly owns 20,961 shares of the company’s stock, valued at approximately $863,802.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the sale, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the sale, the director now owns 20,961 shares in the company, valued at approximately $863,802.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,000 shares of company stock valued at $2,169,920 in the last ninety days. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on FITB shares. Jefferies Financial Group raised their price objective on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada raised their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Evercore ISI upped their price objective 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. Bank of America raised their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine 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 $41.78.

Fifth Third Bancorp Trading Up 0.7 %

NASDAQ FITB opened at $44.65 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The business has a fifty day simple moving average of $41.81 and a 200 day simple moving average of $38.94. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $45.57. The firm has a market capitalization of $30.54 billion, a P/E ratio of 14.17, a PEG ratio of 1.94 and a beta of 1.22.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The firm had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the prior year, the company earned $0.87 EPS. On average, analysts predict that Fifth Third Bancorp will post 3.31 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Monday, September 30th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio is 46.98%.

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.