Family Legacy Inc. Purchases New Stake in Fifth Third Bancorp (NASDAQ:FITB)

Family Legacy Inc. purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,592 shares of the financial services provider’s stock, valued at approximately $227,000.

Several other large investors have also recently bought and sold shares of FITB. GoalVest Advisory LLC grew its stake in Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 560 shares in the last quarter. Clear Street Markets LLC grew its stake in Fifth Third Bancorp by 93.4% in the first quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 647 shares in the last quarter. Financial Management Professionals Inc. boosted its stake in shares of Fifth Third Bancorp by 1,000.0% during the 4th quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,000 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $38,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Fifth Third Bancorp by 322.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 1,730 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 1,320 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fifth Third Bancorp

In other news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction 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 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 can be accessed through the SEC website. In related news, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction 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 sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ FITB traded down $0.22 during trading hours on Tuesday, reaching $36.03. 5,048,567 shares of the company’s stock were exchanged, compared to its average volume of 5,659,583. The stock has a market cap of $24.54 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.39 and a beta of 1.26. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.36. The firm has a fifty day moving average of $34.64 and a 200-day moving average of $30.61. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same period in the prior year, the company earned $1.04 EPS. On average, equities research analysts predict that Fifth Third Bancorp will post 3.16 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.89%. Fifth Third Bancorp’s payout ratio is 43.34%.

Analyst Ratings Changes

Several analysts have recently issued reports on FITB shares. Barclays upped their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. UBS Group upped their price target on Fifth Third Bancorp from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Morgan Stanley upped their price target on Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Royal Bank of Canada increased their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Finally, Keefe, Bruyette & Woods downgraded Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and increased their target price for the company from $33.00 to $37.00 in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $35.30.

About Fifth Third Bancorp

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.