21,351 Shares in Fifth Third Bancorp (NASDAQ:FITB) Acquired by Qsemble Capital Management LP

Qsemble Capital Management LP acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 21,351 shares of the financial services provider’s stock, valued at approximately $779,000.

Several other large investors have also made changes to their positions in the business. Financial Synergies Wealth Advisors Inc. acquired a new position in Fifth Third Bancorp during the first quarter valued at $29,000. American Capital Advisory LLC acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at about $34,000. Centerpoint Advisors LLC boosted its stake in shares of Fifth Third Bancorp by 125.0% in the first quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after buying an additional 750 shares during the last quarter. Family Firm Inc. acquired a new stake in Fifth Third Bancorp during the second quarter worth about $52,000. Finally, Mather Group LLC. purchased a new position in Fifth Third Bancorp during the first quarter valued at approximately $56,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Bank of America upped their price objective on Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada raised their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $40.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, June 11th. Morgan Stanley lifted their price target on Fifth Third Bancorp from $40.00 to $47.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, StockNews.com upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.56.

Insiders Place Their Bets

In other news, EVP Jude Schramm sold 2,500 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the transaction, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now owns 134,422 shares of the company’s stock, valued at approximately $5,376,880. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. 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 three months. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $42.07 on Friday. The firm has a 50-day simple moving average of $40.60 and a 200-day simple moving average of $37.85. 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 market capitalization of $28.47 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.22. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $42.91.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. During the same period last year, the business earned $0.87 earnings per share. On average, equities analysts predict that Fifth Third Bancorp will post 3.3 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.37 dividend. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.52%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

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.