U.S. Capital Wealth Advisors LLC Acquires 15,692 Shares of Fifth Third Bancorp (NASDAQ:FITB)

U.S. Capital Wealth Advisors LLC lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 49.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,392 shares of the financial services provider’s stock after purchasing an additional 15,692 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. lifted its stake in Fifth Third Bancorp by 205.8% in the fourth quarter. Assetmark Inc. now owns 12,617 shares of the financial services provider’s stock valued at $533,000 after buying an additional 8,491 shares during the period. Proficio Capital Partners LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at $6,416,000. Raymond James Financial Inc. purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at $38,971,000. Ashton Thomas Private Wealth LLC raised its position in Fifth Third Bancorp by 3.1% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 13,083 shares of the financial services provider’s stock valued at $558,000 after buying an additional 392 shares during the last quarter. Finally, Banco Santander S.A. purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at $357,000. 83.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FITB. Jefferies Financial Group began coverage on Fifth Third Bancorp in a research note on Wednesday, May 21st. They issued a “buy” rating and a $47.00 price objective for the company. TD Cowen assumed coverage on Fifth Third Bancorp in a research note on Thursday, May 15th. They issued a “buy” rating and a $52.00 target price for the company. Wells Fargo & Company raised their price target on Fifth Third Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday, June 10th. Robert W. Baird raised Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a report on Monday, April 7th. Finally, Cowen assumed coverage on Fifth Third Bancorp in a report on Wednesday, May 14th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.53.

Fifth Third Bancorp Stock Up 0.9%

FITB stock opened at $43.45 on Wednesday. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The business has a fifty day moving average price of $39.17 and a 200-day moving average price of $40.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $29.00 billion, a P/E ratio of 13.79, a P/E/G ratio of 1.49 and a beta of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. Fifth Third Bancorp had a return on equity of 13.64% and a net margin of 17.65%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. Equities analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Monday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Fifth Third Bancorp announced that its board has approved a share repurchase plan on Monday, June 16th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

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.