Paradigm Financial Partners LLC Sells 2,050 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Paradigm Financial Partners LLC decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,888 shares of the financial services provider’s stock after selling 2,050 shares during the period. Paradigm Financial Partners LLC’s holdings in Fifth Third Bancorp were worth $1,721,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. GoalVest Advisory LLC increased its holdings in shares of Fifth Third Bancorp by 145.5% in the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 560 shares in the last quarter. Denali Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the fourth quarter valued at about $36,000. Financial Management Professionals Inc. lifted its position in shares of Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,000 shares in the last quarter. Authentikos Wealth Advisory LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter valued at about $46,000. Finally, Friedenthal Financial bought a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $48,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

FITB traded up $0.08 during trading on Friday, reaching $36.90. The company’s stock had a trading volume of 2,474,530 shares, compared to its average volume of 4,563,777. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a fifty day simple moving average of $35.54 and a two-hundred day simple moving average of $32.27. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.41. The company has a market cap of $25.13 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.40 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $0.78 EPS. As a group, analysts anticipate that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.79%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 26,500 shares of the firm’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 transaction of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO James C. Leonard sold 26,500 shares of the firm’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 transaction of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Insiders sold 46,357 shares of company stock worth $1,693,888 in the last 90 days. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FITB. Evercore ISI boosted their price objective on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Robert W. Baird reissued a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Wells Fargo & Company boosted their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. DA Davidson upped their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, Barclays upped their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.31.

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.