Shoker Investment Counsel Inc. Has $512,000 Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Shoker Investment Counsel Inc. raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,945 shares of the financial services provider’s stock after purchasing an additional 422 shares during the quarter. Shoker Investment Counsel Inc.’s holdings in Fifth Third Bancorp were worth $512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Duality Advisers LP bought a new position in Fifth Third Bancorp in the first quarter valued at about $318,000. Empirical Finance LLC raised its holdings in Fifth Third Bancorp by 3.5% in the 1st quarter. Empirical Finance LLC now owns 24,766 shares of the financial services provider’s stock valued at $922,000 after buying an additional 836 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Fifth Third Bancorp by 9.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 86,614 shares of the financial services provider’s stock worth $3,223,000 after buying an additional 7,279 shares during the period. Empowered Funds LLC grew its holdings in Fifth Third Bancorp by 55.7% during the 1st quarter. Empowered Funds LLC now owns 11,209 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 4,012 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Fifth Third Bancorp by 39.3% in the 1st quarter. SG Americas Securities LLC now owns 92,884 shares of the financial services provider’s stock valued at $3,456,000 after acquiring an additional 26,209 shares during the period. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the business’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 value of $840,000.00. Following the sale, the executive vice president now owns 114,422 shares of the company’s stock, valued at $4,805,724. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the business’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 value of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at $4,805,724. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 0.7 %

NASDAQ:FITB opened at $46.26 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a one year low of $24.64 and a one year high of $46.90. The company has a market cap of $31.31 billion, a PE ratio of 15.37, a PEG ratio of 2.05 and a beta of 1.21. The firm has a 50-day moving average of $43.09 and a 200-day moving average of $40.00.

Fifth Third Bancorp (NASDAQ:FITB) last issued 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 company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.33 EPS for the current fiscal 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 issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 3.20%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FITB. Argus lifted their price target on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada upped their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Bank of America increased their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Barclays raised their price target 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 analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $42.28.

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.