Vestor Capital LLC Buys 281,743 Shares of Fifth Third Bancorp $FITB

Vestor Capital LLC increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 181,769.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 281,898 shares of the financial services provider’s stock after acquiring an additional 281,743 shares during the quarter. Vestor Capital LLC’s holdings in Fifth Third Bancorp were worth $14,258,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaCore Capital LLC boosted its position in Fifth Third Bancorp by 87.2% in the 3rd quarter. AlphaCore Capital LLC now owns 32,865 shares of the financial services provider’s stock valued at $1,667,000 after buying an additional 15,313 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of Fifth Third Bancorp during the third quarter worth $1,855,000. StoneRidge PMG Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the third quarter worth $599,000. University of Texas Texas AM Investment Management Co. lifted its stake in shares of Fifth Third Bancorp by 69.0% during the third quarter. University of Texas Texas AM Investment Management Co. now owns 1,144 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 467 shares during the period. Finally, M Holdings Securities Inc. acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at $900,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 20,000 shares of the business’s 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 transaction, the executive vice president directly owned 121,460 shares in the company, valued at approximately $6,454,384.40. The trade was a 14.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on FITB shares. Bank of America lifted their price objective on Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods boosted their price objective on Fifth Third Bancorp from $58.00 to $60.00 and gave the stock a “market perform” rating in a report on Monday, July 20th. Argus upgraded shares of Fifth Third Bancorp to a “strong-buy” rating in a research report on Wednesday, July 22nd. DA Davidson raised their target price on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Evercore upgraded shares of Fifth Third Bancorp from an “in-line” rating to an “outperform” rating and set a $60.00 price target for the company in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.87.

Fifth Third Bancorp Stock Performance

FITB stock opened at $54.45 on Tuesday. Fifth Third Bancorp has a twelve month low of $40.68 and a twelve month high of $59.50. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. The company has a market cap of $49.20 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 1.09 and a beta of 0.98. The business’s fifty day moving average is $52.65 and its 200-day moving average is $52.16.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Monday, October 19th. The financial services provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.34 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%. The firm’s quarterly revenue was up 42.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. Equities research analysts forecast that Fifth Third Bancorp will post 4.10 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.1%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 57.53%.

Fifth Third Bancorp Company Profile