Jamison Private Wealth Management Inc. Acquires New Shares in Fifth Third Bancorp $FITB

Jamison Private Wealth Management Inc. acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,593 shares of the financial services provider’s stock, valued at approximately $539,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. Harbor Investment Advisory LLC increased its holdings in shares of Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 517 shares in the last quarter. Monetary Solutions Ltd acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $29,000. Leonteq Securities AG bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $30,000. Reflection Asset Management bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $30,000. Finally, EFG International AG acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $33,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the transaction, the executive vice president owned 189,382 shares in the company, valued at $9,556,215.72. This trade represents a 9.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $50.77, for a total value of $304,620.00. Following the sale, the executive vice president owned 76,299 shares in the company, valued at $3,873,700.23. The trade was a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Trading Down 0.6%

NASDAQ FITB opened at $57.15 on Friday. Fifth Third Bancorp has a 52 week low of $40.04 and a 52 week high of $58.15. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. The stock’s 50 day moving average price is $51.42 and its two-hundred day moving average price is $49.89. The stock has a market capitalization of $51.80 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.09 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period last year, the company earned $0.71 earnings per share. As a group, analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio is currently 53.69%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FITB. Truist Financial increased their target price on Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Barclays lifted their price target on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. upped their price target on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings raised shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, June 1st. Finally, Robert W. Baird raised their price objective on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.94.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.