15,876 Shares in Fifth Third Bancorp (NASDAQ:FITB) Purchased by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,876 shares of the financial services provider's stock, valued at approximately $680,000.

Several other institutional investors have also added to or reduced their stakes in the business. Capital World Investors boosted its stake in shares of Fifth Third Bancorp by 13.4% in the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider's stock worth $1,733,847,000 after buying an additional 5,512,333 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Fifth Third Bancorp in the 2nd quarter worth $33,337,000. Millennium Management LLC boosted its stake in shares of Fifth Third Bancorp by 896.7% in the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider's stock worth $23,678,000 after buying an additional 583,781 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Fifth Third Bancorp by 37.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,629,456 shares of the financial services provider's stock worth $60,632,000 after buying an additional 442,121 shares during the last quarter. Finally, Employees Retirement System of Texas boosted its stake in shares of Fifth Third Bancorp by 38.7% in the 2nd quarter. Employees Retirement System of Texas now owns 1,433,900 shares of the financial services provider's stock worth $52,323,000 after buying an additional 399,900 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on FITB. Jefferies Financial Group raised their price target on Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, July 3rd. Barclays lifted their target price on Fifth Third Bancorp from $43.00 to $51.00 and gave the company an "overweight" rating in a research report on Monday. Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an "outperform" rating in a research report on Monday, July 22nd. Bank of America lifted their target price on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, July 22nd. Finally, Evercore ISI lifted their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an "in-line" rating in a research report on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $42.28.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total value of $840,000.00. Following the sale, the executive vice president now directly owns 114,422 shares of the company's stock, valued at approximately $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.50% of the company's stock.

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded up $0.19 on Thursday, reaching $44.06. 2,847,421 shares of the company's stock traded hands, compared to its average volume of 4,609,836. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The stock has a 50-day simple moving average of $42.40 and a 200-day simple moving average of $39.27. The firm has a market cap of $30.14 billion, a PE ratio of 13.99, a P/E/G ratio of 1.94 and a beta of 1.22. Fifth Third Bancorp has a 12 month low of $22.49 and a 12 month high of $45.71.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the firm posted $0.92 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.36%. This is a boost from Fifth Third Bancorp's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. Fifth Third Bancorp's payout ratio is 46.98%.

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.