First National Trust Co Acquires 2,104 Shares of Fifth Third Bancorp (NASDAQ:FITB)

First National Trust Co increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 54,448 shares of the financial services provider’s stock after purchasing an additional 2,104 shares during the quarter. First National Trust Co’s holdings in Fifth Third Bancorp were worth $1,878,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. GoalVest Advisory LLC boosted its position in shares of Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 560 shares during the period. Denali Advisors LLC bought a new position in Fifth Third Bancorp in the 4th quarter worth $36,000. Financial Management Professionals Inc. increased its stake in 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 in the last quarter. Authentikos Wealth Advisory LLC bought a new stake in Fifth Third Bancorp during the third quarter valued at about $46,000. Finally, Friedenthal Financial purchased a new position in shares of Fifth Third Bancorp in the fourth quarter valued at about $48,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Up 1.8 %

Shares of Fifth Third Bancorp stock traded up $0.67 on Friday, reaching $37.56. The company had a trading volume of 4,007,014 shares, compared to its average volume of 4,768,773. The firm has a market cap of $25.58 billion, a price-to-earnings 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 current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day moving average price is $35.79 and its two-hundred day moving average price 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 quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 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 company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. As a group, research analysts predict that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

FITB has been the subject of several research analyst reports. DA Davidson increased their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $40.00 price objective (up previously from $39.00) on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. Wells Fargo & Company upped their target price 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. Evercore ISI lifted their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, Robert W. Baird reissued a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $36.50.

Insiders Place Their Bets

In other 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 value of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated 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 in the company, valued at $5,134,575. The disclosure for this sale can be found here. Insiders sold a total of 48,857 shares of company stock valued at $1,787,638 over the last 90 days. Insiders own 0.50% of the company’s stock.

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.