Ameritas Advisory Services LLC Has $605,000 Holdings in Fifth Third Bancorp $FITB

Ameritas Advisory Services LLC raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 616.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,921 shares of the financial services provider’s stock after purchasing an additional 11,117 shares during the quarter. Ameritas Advisory Services LLC’s holdings in Fifth Third Bancorp were worth $605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. increased its holdings in shares of Fifth Third Bancorp by 100.0% in the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 292 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in 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 valued at $29,000 after buying an additional 517 shares during the period. United Community Bank raised its position in shares of Fifth Third Bancorp by 581.0% in the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 581 shares during the period. Quest 10 Wealth Builders Inc. increased its stake in Fifth Third Bancorp by 619.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 632 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its position in shares of Fifth Third Bancorp by 77.6% during the fourth quarter. Salomon & Ludwin LLC now owns 737 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 322 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on FITB. Evercore raised their target price on shares of Fifth Third Bancorp from $51.00 to $53.00 in a research report on Tuesday, April 21st. Truist Financial set a $57.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, April 21st. Robert W. Baird boosted their target price on shares of Fifth Third Bancorp from $55.00 to $56.00 and gave the company an “outperform” rating in a research report on Monday, April 20th. DA Davidson reaffirmed a “buy” rating and set a $58.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 20th. Finally, The Goldman Sachs Group upped their price target on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $57.19.

Fifth Third Bancorp Stock Down 0.7%

Fifth Third Bancorp stock opened at $47.35 on Friday. The firm’s fifty day moving average price is $47.77 and its two-hundred day moving average price is $47.71. The firm has a market capitalization of $42.91 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a 1-year low of $36.64 and a 1-year high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.87. 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 during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, equities research analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.40 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.4%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 53.69%.

Insider Activity

In other news, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the transaction, the executive vice president owned 76,299 shares in the company, valued at $3,873,700.23. This trade represents a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the transaction, the executive vice president owned 189,382 shares of the company’s stock, valued at $9,556,215.72. This trade represents a 9.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by company insiders.

Fifth Third Bancorp Company Profile

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.