Nadler Financial Group Inc. Acquires Shares of 5,374 Fifth Third Bancorp (NASDAQ:FITB)

Nadler Financial Group Inc. bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,374 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other large investors have also recently bought and sold shares of the business. American Capital Advisory LLC acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth about $34,000. Hexagon Capital Partners LLC raised its stake in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 312 shares in the last quarter. Centerpoint Advisors LLC lifted its position in 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 valued at $50,000 after acquiring an additional 750 shares during the last quarter. Family Firm Inc. acquired a new position in Fifth Third Bancorp in the second quarter valued at $52,000. Finally, Abich Financial Wealth Management LLC increased its position in shares of Fifth Third Bancorp by 1,787.3% during the third quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 1,269 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 20,000 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of a number of research reports. Evercore ISI raised their price target on 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. Royal Bank of Canada upped their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Argus raised their price target on Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Bank of America boosted their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Morgan Stanley increased their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $42.28.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded up $0.31 during trading hours on Friday, hitting $43.99. The company had a trading volume of 384,182 shares, compared to its average volume of 4,591,895. The firm has a market capitalization of $29.77 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 2.11 and a beta of 1.22. The firm’s fifty day moving average is $42.78 and its 200 day moving average is $39.60. Fifth Third Bancorp has a 12 month low of $24.02 and a 12 month high of $45.71. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the business posted $0.92 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, sell-side analysts predict that Fifth Third Bancorp will post 3.33 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a yield of 3.36%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s payout ratio is presently 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.