Aptus Capital Advisors LLC Invests $206,000 in Fifth Third Bancorp (NASDAQ:FITB)

Aptus Capital Advisors LLC bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, HoldingsChannel reports. The firm bought 4,807 shares of the financial services provider’s stock, valued at approximately $206,000.

Other hedge funds also recently made changes to their positions in the company. Venturi Wealth Management LLC lifted its position in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the period. American Capital Advisory LLC purchased a new position in Fifth Third Bancorp during the 2nd quarter valued at about $34,000. Hexagon Capital Partners LLC boosted its stake in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 312 shares in the last quarter. Family Firm Inc. purchased a new stake in Fifth Third Bancorp in the second quarter worth about $52,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $53,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $46.99 on Friday. The stock has a market capitalization of $31.51 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 2.26 and a beta of 1.21. Fifth Third Bancorp has a 1-year low of $26.89 and a 1-year high of $48.10. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The business’s fifty day moving average price is $43.61 and its 200-day moving average price is $40.36.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the company posted $0.92 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts predict that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

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

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’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 transaction of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The trade was a 14.88 % 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.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FITB. Evercore ISI upped their price target on 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. Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Royal Bank of Canada upped 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. Barclays raised their price objective on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Bank of America lifted their target price on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. One research 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. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus target price of $43.09.

Fifth Third Bancorp Company 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.