Oxford Financial Group LTD. LLC Acquires Shares of 11,299 Fifth Third Bancorp $FITB

Oxford Financial Group LTD. LLC acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 2nd quarter, HoldingsChannel reports. The fund acquired 11,299 shares of the financial services provider’s stock, valued at approximately $637,000.

Other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. increased its holdings in Fifth Third Bancorp by 4.6% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,261 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 187 shares during the period. Equitable Holdings Inc. raised its position in Fifth Third Bancorp by 4.1% during the 4th quarter. Equitable Holdings Inc. now owns 4,950 shares of the financial services provider’s stock valued at $232,000 after purchasing an additional 195 shares during the last quarter. Basecamp Wealth Advisors LLC lifted its holdings in Fifth Third Bancorp by 5.5% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 3,869 shares of the financial services provider’s stock worth $180,000 after buying an additional 201 shares during the period. Koshinski Asset Management Inc. lifted its holdings in Fifth Third Bancorp by 3.1% in the 4th quarter. Koshinski Asset Management Inc. now owns 6,870 shares of the financial services provider’s stock worth $322,000 after buying an additional 206 shares during the period. Finally, Legacy Wealth Managment LLC ID grew its position in shares of Fifth Third Bancorp by 19.2% in the 1st quarter. Legacy Wealth Managment LLC ID now owns 1,319 shares of the financial services provider’s stock worth $61,000 after buying an additional 212 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Down 0.8%

Shares of NASDAQ FITB opened at $54.51 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a 50-day moving average of $56.54 and a 200 day moving average of $51.95. Fifth Third Bancorp has a 1 year low of $40.04 and a 1 year high of $59.50. The stock has a market cap of $49.43 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.09 and a beta of 0.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 17th. The financial services provider reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.01). Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter in the previous year, the company earned $0.88 EPS. The business’s quarterly revenue was up 45.8% on a year-over-year basis. As a group, sell-side analysts expect that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.9%. Fifth Third Bancorp’s dividend payout ratio is presently 54.61%.

Wall Street Analysts Forecast Growth

FITB has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on Fifth Third Bancorp from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Wall Street Zen upgraded shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a report on Sunday, May 10th. Stephens began coverage on shares of Fifth Third Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $58.00 price objective on the stock. Bank of America upped their price objective on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Royal Bank Of Canada raised their target price on shares of Fifth Third Bancorp from $57.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $60.54.

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.