Callan Family Office LLC Buys 31,197 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Callan Family Office LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 60.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,551 shares of the financial services provider's stock after buying an additional 31,197 shares during the quarter. Callan Family Office LLC's holdings in Fifth Third Bancorp were worth $3,536,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of FITB. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of Fifth Third Bancorp in the 1st quarter worth about $29,000. American Capital Advisory LLC bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter worth about $34,000. Centerpoint Advisors LLC grew its holdings in shares of Fifth Third Bancorp by 125.0% in the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider's stock worth $50,000 after purchasing an additional 750 shares during the last quarter. Family Firm Inc. bought a new stake in shares of Fifth Third Bancorp in the 2nd quarter worth about $52,000. Finally, Mather Group LLC. bought a new stake in shares of Fifth Third Bancorp in the 1st quarter worth about $56,000. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Up 0.2 %

Shares of NASDAQ FITB traded up $0.10 during trading hours on Tuesday, hitting $42.26. The company had a trading volume of 768,123 shares, compared to its average volume of 4,592,814. The stock has a market capitalization of $28.91 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 2.03 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $43.85. The firm's 50 day moving average is $41.48 and its 200-day moving average is $38.65.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share (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 business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the prior year, the business earned $0.87 EPS. On average, analysts expect that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.50%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm's stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now owns 134,422 shares of the company's stock, valued at $5,376,880. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive vice president now owns 134,422 shares of the company's stock, valued at approximately $5,376,880. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin P. Lavender sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total value of $835,400.00. Following the sale, the executive vice president now directly owns 125,087 shares of the company's stock, valued at $5,224,883.99. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,500 shares of company stock valued at $2,269,920 in the last quarter. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on FITB. Evercore ISI upped their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 2nd. Bank of America increased their price target on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Royal Bank of Canada increased their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. StockNews.com cut Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Friday, September 27th. Finally, Morgan Stanley increased their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $41.78.

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.