7,273 Shares in Fifth Third Bancorp (NASDAQ:FITB) Bought by Telemus Capital LLC

Telemus Capital LLC purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,273 shares of the financial services provider’s stock, valued at approximately $251,000.

A number of other large investors have also recently bought and sold shares of FITB. Boston Partners boosted its stake in Fifth Third Bancorp by 32.1% during the 3rd quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock worth $331,188,000 after purchasing an additional 3,176,903 shares during the period. Smead Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $67,354,000. Invesco Ltd. lifted its stake in shares of Fifth Third Bancorp by 8.4% in the 3rd quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock worth $492,117,000 after acquiring an additional 1,500,653 shares during the period. Barclays PLC lifted its stake in shares of Fifth Third Bancorp by 66.0% in the 3rd quarter. Barclays PLC now owns 2,307,073 shares of the financial services provider’s stock worth $58,437,000 after acquiring an additional 917,549 shares during the period. Finally, Kettle Hill Capital Management LLC acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $12,625,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity

In other news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the transaction, the executive vice president now owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The disclosure for this sale can be found here. Insiders sold a total of 46,357 shares of company stock valued at $1,693,888 over the last 90 days. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FITB. DA Davidson raised their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday. Barclays increased their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Royal Bank of Canada raised their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Robert W. Baird reiterated a “neutral” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price objective (up previously from $39.00) on shares of Fifth Third Bancorp in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.31.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $36.55 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The stock has a market cap of $24.90 billion, a P/E ratio of 11.60, a PEG ratio of 1.38 and a beta of 1.27. The company has a 50-day moving average of $35.26 and a two-hundred day moving average of $31.97. Fifth Third Bancorp has a 12-month low of $22.46 and a 12-month high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, research analysts predict that Fifth Third Bancorp will post 3.19 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

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.