Austin Private Wealth LLC Has $234,000 Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Austin Private Wealth LLC decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,456 shares of the financial services provider’s stock after selling 505 shares during the quarter. Austin Private Wealth LLC’s holdings in Fifth Third Bancorp were worth $234,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. 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 increased its position in shares of 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 purchasing an additional 312 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth about $52,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth about $53,000. Finally, Abich Financial Wealth Management LLC increased its position in shares of Fifth Third Bancorp by 1,787.3% during the 3rd 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. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.8 %

Shares of NASDAQ FITB opened at $43.16 on Wednesday. The firm’s 50-day moving average is $42.85 and its 200-day moving average is $39.84. Fifth Third Bancorp has a 1 year low of $24.64 and a 1 year high of $45.71. The firm has a market capitalization of $29.21 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 2.07 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $0.92 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that Fifth Third Bancorp will post 3.33 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed 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 is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.43%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Wall Street Analyst Weigh In

FITB has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Bank of America increased their price objective on shares of Fifth Third Bancorp from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Barclays increased their price objective 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average target price of $42.28.

Insider Buying and Selling

In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the sale, the executive vice president now directly owns 114,422 shares in the company, valued at approximately $4,805,724. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kristine R. Garrett sold 7,500 shares of the firm’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 sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

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.