GAMMA Investing LLC Has $1.16 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

GAMMA Investing LLC increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 14.9% in the fourth quarter, HoldingsChannel reports. The firm owned 27,528 shares of the financial services provider’s stock after purchasing an additional 3,572 shares during the period. GAMMA Investing LLC’s holdings in Fifth Third Bancorp were worth $1,164,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FITB. OneDigital Investment Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 1.1% during the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after buying an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. increased its holdings in Fifth Third Bancorp by 7.5% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 232 shares in the last quarter. Quent Capital LLC raised its position in Fifth Third Bancorp by 9.9% in the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 248 shares during the last quarter. Diversified Trust Co boosted its stake in Fifth Third Bancorp by 2.6% in the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 259 shares in the last quarter. Finally, Metis Global Partners LLC grew its holdings in shares of Fifth Third Bancorp by 1.2% during the third quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock worth $932,000 after purchasing an additional 260 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

FITB has been the topic of a number of research analyst reports. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods raised their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Evercore ISI boosted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Finally, Barclays increased their price target on shares of Fifth Third Bancorp from $43.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and an average target price of $45.32.

Fifth Third Bancorp Stock Up 0.5 %

FITB opened at $42.39 on Friday. 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 $45.35 and a 200-day moving average of $42.30. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07. The company has a market capitalization of $28.42 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.19 and a beta of 1.22.

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

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 49.17%.

Fifth Third Bancorp 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.