Outfitter Financial LLC Purchases Shares of 27,425 Fifth Third Bancorp (NASDAQ:FITB)

Outfitter Financial LLC bought a new position in Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,425 shares of the financial services provider’s stock, valued at approximately $946,000.

A number of other institutional investors have also made changes to their positions in the business. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 8,525 shares of the financial services provider’s stock worth $294,000 after buying an additional 300 shares in the last quarter. Independence Bank of Kentucky increased its holdings in Fifth Third Bancorp by 21.1% in the fourth quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 355 shares during the period. Kingsview Wealth Management LLC boosted its position in Fifth Third Bancorp by 3.5% during the third quarter. Kingsview Wealth Management LLC now owns 11,391 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 389 shares during the last quarter. Vicus Capital raised its holdings in shares of Fifth Third Bancorp by 4.1% during the fourth quarter. Vicus Capital now owns 9,977 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 397 shares during the period. Finally, Advisory Resource Group grew its position in Fifth Third Bancorp by 0.4% in the 4th quarter. Advisory Resource Group now owns 116,918 shares of the financial services provider’s stock valued at $4,033,000 after purchasing an additional 435 shares during the period. 83.79% of the stock is owned by institutional investors.

Insider Activity

In other news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO James C. Leonard sold 26,500 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares in the company, valued at $1,696,981.48. The disclosure for this sale can be found here. Insiders have sold a total of 48,857 shares of company stock valued at $1,787,638 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Up 0.5 %

Shares of NASDAQ:FITB traded up $0.18 during trading on Friday, reaching $38.83. 806,423 shares of the stock traded hands, compared to its average volume of 5,184,119. The stock has a market cap of $26.44 billion, a P/E ratio of 12.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50-day moving average of $36.15 and a two-hundred day moving average of $32.99. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $39.04.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Friday, April 19th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion for 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 last year, the business posted $0.78 EPS. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.22 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FITB. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research report on Monday, April 1st. UBS Group reiterated a “neutral” rating and issued a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. JPMorgan Chase & Co. upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $37.50 to $39.50 in a research note on Wednesday, May 1st. Wells Fargo & Company boosted their target price 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. Finally, Morgan Stanley reissued an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and an average target price of $36.50.

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.