M Holdings Securities Inc. Purchases 16,606 Shares of Fifth Third Bancorp $FITB

M Holdings Securities Inc. acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,606 shares of the financial services provider’s stock, valued at approximately $900,000.

Several other large investors also recently made changes to their positions in FITB. Uhlmann Price Securities LLC bought a new position in Fifth Third Bancorp during the 3rd quarter valued at $283,000. StoneX Group Inc. bought a new position in Fifth Third Bancorp during the third quarter valued at $234,000. Pictet Asset Management Holding SA increased its holdings in Fifth Third Bancorp by 5.8% in the 3rd quarter. Pictet Asset Management Holding SA now owns 508,002 shares of the financial services provider’s stock worth $25,695,000 after acquiring an additional 27,695 shares during the last quarter. Waycross Partners LLC raised its holdings in Fifth Third Bancorp by 349.3% during the 3rd quarter. Waycross Partners LLC now owns 38,439 shares of the financial services provider’s stock valued at $1,944,000 after acquiring an additional 29,883 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in Fifth Third Bancorp by 3.5% during the 3rd quarter. International Assets Investment Management LLC now owns 8,828 shares of the financial services provider’s stock worth $445,000 after purchasing an additional 296 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. DA Davidson lifted their price target on Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Royal Bank Of Canada cut their target price on shares of Fifth Third Bancorp from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, October 20th. Keefe, Bruyette & Woods boosted their target price on Fifth Third Bancorp from $58.00 to $60.00 and gave the company a “market perform” rating in a research note on Monday, July 20th. TD Cowen started coverage on Fifth Third Bancorp in a research report on Thursday, October 8th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.87.

Insider Activity

In related news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $53.14, for a total transaction of $1,062,800.00. Following the completion of the sale, the executive vice president owned 121,460 shares in the company, valued at approximately $6,454,384.40. This trade represents a 14.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Stock Down 0.3%

FITB opened at $54.21 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. Fifth Third Bancorp has a fifty-two week low of $40.68 and a fifty-two week high of $59.50. The firm’s fifty day moving average is $52.66 and its 200 day moving average is $52.18. The stock has a market cap of $48.99 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.09 and a beta of 0.98.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Monday, October 19th. The financial services provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.27. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.34 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. Fifth Third Bancorp’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. On average, sell-side analysts forecast that Fifth Third Bancorp will post 4.10 earnings per share for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, September 30th. Fifth Third Bancorp’s dividend payout ratio is currently 57.53%.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. Through its principal subsidiary, Fifth Third Bank, it provides consumer and commercial banking, lending, payment processing, and wealth and asset management services. The company traces its roots to 1858 and took the Fifth Third name following the 1908 merger of Fifth National Bank and Third National Bank. Its banking operations serve individuals, businesses, and communities across parts of the Midwest and Southeast, including Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, South Carolina, Tennessee, and West Virginia.