D.A. Davidson & CO. Has $918,000 Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

D.A. Davidson & CO. raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 1.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 21,423 shares of the financial services provider’s stock after purchasing an additional 289 shares during the period. D.A. Davidson & CO.’s holdings in Fifth Third Bancorp were worth $918,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC raised its stake in shares of Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after buying an additional 312 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Fifth Third Bancorp during the 3rd quarter worth about $39,000. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at about $34,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the third quarter valued at about $53,000. Institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Evercore ISI raised their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Citigroup boosted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Barclays upped their target price on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and an average price target of $43.62.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Down 0.2 %

NASDAQ FITB opened at $48.06 on Monday. The stock has a market capitalization of $32.23 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 2.30 and a beta of 1.21. Fifth Third Bancorp has a 52 week low of $28.29 and a 52 week high of $49.07. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a fifty day moving average of $44.70 and a 200-day moving average of $41.07.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. Fifth Third Bancorp’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.08%. This is an increase 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 49.17%.

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.