Sigma Planning Corp Sells 8,233 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Sigma Planning Corp lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 55.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,621 shares of the financial services provider’s stock after selling 8,233 shares during the period. Sigma Planning Corp’s holdings in Fifth Third Bancorp were worth $228,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GoalVest Advisory LLC boosted its holdings in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after buying an additional 560 shares in the last quarter. Denali Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth about $36,000. Financial Management Professionals Inc. raised its position in shares of Fifth Third Bancorp by 1,000.0% in the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,000 shares during the last quarter. Friedenthal Financial purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth about $48,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Fifth Third Bancorp by 83.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,532 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 695 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,357 shares of company stock worth $1,693,888. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $36.90 on Monday. Fifth Third Bancorp has a 52 week low of $22.46 and a 52 week high of $37.41. The firm has a market capitalization of $25.13 billion, a P/E ratio of 11.71, a PEG ratio of 1.40 and a beta of 1.27. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average price of $35.54 and a 200-day moving average price of $32.32.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. The company had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same period in the previous year, the company posted $0.78 EPS. Equities research analysts anticipate that Fifth Third Bancorp will post 3.2 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.79%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 44.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FITB shares. Wells Fargo & Company lifted their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Royal Bank of Canada boosted their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Barclays boosted their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. DA Davidson boosted their target price on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $36.31.

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.