Alan B Lancz & Associates Inc. Takes Position in Fifth Third Bancorp (NASDAQ:FITB)

Alan B Lancz & Associates Inc. purchased a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 6,090 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other large investors have also modified their holdings of the business. GoalVest Advisory LLC grew its position 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 buying an additional 560 shares during the last quarter. Denali Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth approximately $36,000. Financial Management Professionals Inc. grew its position in shares of Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,000 shares during the last quarter. Authentikos Wealth Advisory LLC purchased a new position in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $46,000. Finally, Friedenthal Financial purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth approximately $48,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded up $0.67 during mid-day trading on Friday, reaching $37.56. 4,007,014 shares of the stock were exchanged, compared to its average volume of 4,768,773. The company has a market capitalization of $25.58 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.40 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average is $35.79 and its 200-day moving average is $32.56. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.77.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the company posted $0.78 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.2 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Royal Bank of Canada boosted their target price on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Morgan Stanley reissued an “equal weight” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $37.50 to $39.50 in a research report on Wednesday. Finally, Robert W. Baird reissued a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.50.

Insider Activity

In related news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction 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 sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders sold 48,857 shares of company stock worth $1,787,638 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

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.