Fifth Third Bancorp $FITB Shares Sold by GW Henssler & Associates Ltd.

GW Henssler & Associates Ltd. lessened its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 568,255 shares of the financial services provider’s stock after selling 13,577 shares during the quarter. Fifth Third Bancorp makes up about 1.3% of GW Henssler & Associates Ltd.’s holdings, making the stock its 20th biggest holding. GW Henssler & Associates Ltd. owned 0.09% of Fifth Third Bancorp worth $26,600,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FITB. Westside Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 292 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in shares of Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 517 shares in the last quarter. United Community Bank lifted its position in shares of Fifth Third Bancorp by 581.0% in the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 581 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $30,000. Finally, Quest 10 Wealth Builders Inc. lifted its position in shares of Fifth Third Bancorp by 619.6% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 632 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total value of $1,009,200.00. Following the transaction, the executive vice president directly owned 189,382 shares in the company, valued at approximately $9,556,215.72. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kevin J. Khanna sold 6,000 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the transaction, the executive vice president owned 76,299 shares in the company, valued at $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $48.56 on Tuesday. The company’s fifty day moving average is $48.63 and its 200-day moving average is $48.28. Fifth Third Bancorp has a 12 month low of $37.28 and a 12 month high of $55.44. The firm has a market cap of $44.01 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.02 and a beta of 0.92. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.87. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the prior year, the business posted $0.71 EPS. Equities analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.40 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.3%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 53.69%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on FITB shares. Robert W. Baird upped their price target on shares of Fifth Third Bancorp from $55.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. Morgan Stanley reduced their price target on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Fifth Third Bancorp in a research report on Monday, May 4th. TD Cowen reiterated a “buy” rating and issued a $60.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, February 3rd. Finally, Truist Financial set a $57.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, April 21st. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.19.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.