Catalyst Capital Advisors LLC Invests $53,000 in Fifth Third Bancorp (NASDAQ:FITB)

Catalyst Capital Advisors LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,247 shares of the financial services provider’s stock, valued at approximately $53,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Capital Advisory LLC purchased a new position in Fifth Third Bancorp during the 2nd quarter valued at $34,000. Hexagon Capital Partners LLC increased its position in shares of Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after buying an additional 312 shares during the period. Family Firm Inc. bought a new position in Fifth Third Bancorp in the second quarter worth about $52,000. Abich Financial Wealth Management LLC lifted its holdings in Fifth Third Bancorp by 1,787.3% in the third quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock worth $57,000 after buying an additional 1,269 shares during the period. Finally, Blue Trust Inc. boosted its position in Fifth Third Bancorp by 130.6% during the 2nd quarter. Blue Trust Inc. now owns 1,614 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 914 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the 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 transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jude Schramm sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Monday, August 26th. The stock was sold at an average price of $42.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now owns 114,422 shares in the company, valued at $4,805,724. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $46.87 on Thursday. Fifth Third Bancorp has a one year low of $24.64 and a one year high of $46.90. The stock has a 50-day moving average of $42.95 and a 200 day moving average of $39.89. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $31.72 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 2.07 and a beta of 1.21.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.92 earnings per share. On average, sell-side analysts forecast that Fifth Third Bancorp will post 3.33 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Monday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FITB. Morgan Stanley raised their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Bank of America raised their price objective on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Royal Bank of Canada upped their target price on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Argus upped their price objective 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.