Calamos Advisors LLC Sells 2,654 Shares of Fifth Third Bancorp (FITB)
Calamos Advisors LLC decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 138,174 shares of the financial services provider’s stock after selling 2,654 shares during the period. Calamos Advisors LLC’s holdings in Fifth Third Bancorp were worth $4,192,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Horan Capital Advisors LLC. acquired a new stake in Fifth Third Bancorp in the third quarter valued at about $102,000. Valeo Financial Advisors LLC acquired a new stake in Fifth Third Bancorp in the third quarter valued at about $119,000. Harvest Fund Management Co. Ltd acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at about $148,000. SeaCrest Wealth Management LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at about $162,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Fifth Third Bancorp by 268.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,456 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 4,706 shares during the period. Institutional investors and hedge funds own 84.01% of the company’s stock.
Fifth Third Bancorp (NASDAQ FITB) opened at $32.91 on Friday. Fifth Third Bancorp has a 1-year low of $23.20 and a 1-year high of $34.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.90 and a quick ratio of 0.89. The stock has a market cap of $23,310.00, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.81 and a beta of 1.31.
Fifth Third Bancorp declared that its Board of Directors has authorized a share buyback program on Tuesday, February 27th that allows the company to buyback 100,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.94%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 25.20%.
In other news, EVP James C. Leonard sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $33.80, for a total transaction of $1,183,000.00. Following the completion of the transaction, the executive vice president now directly owns 101,091 shares of the company’s stock, valued at approximately $3,416,875.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Greg D. Carmichael sold 87,613 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $32.37, for a total transaction of $2,836,032.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 176,410 shares of company stock valued at $5,779,186. Corporate insiders own 0.38% of the company’s stock.
A number of equities research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Fifth Third Bancorp from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. BidaskClub upgraded shares of Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. BMO Capital Markets restated a “hold” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, January 24th. Zacks Investment Research downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 12th. Finally, Vining Sparks restated a “buy” rating and issued a $35.00 price objective on shares of Fifth Third Bancorp in a research report on Sunday, January 28th. Three investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $30.70.
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Fifth Third Bancorp Company Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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