GW Henssler & Associates Ltd. Has $26.60 Million Holdings in Fifth Third Bancorp $FITB

GW Henssler & Associates Ltd. cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 568,255 shares of the financial services provider’s stock after selling 13,577 shares during the quarter. Fifth Third Bancorp makes up about 1.3% of GW Henssler & Associates Ltd.’s holdings, making the stock its 20th biggest position. GW Henssler & Associates Ltd.’s holdings in Fifth Third Bancorp were worth $26,600,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Fifth Third Bancorp by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider’s stock valued at $3,929,647,000 after purchasing an additional 637,207 shares during the period. Capital World Investors boosted its holdings in Fifth Third Bancorp by 6.2% in the 3rd quarter. Capital World Investors now owns 30,830,308 shares of the financial services provider’s stock valued at $1,373,490,000 after purchasing an additional 1,803,861 shares during the period. Invesco Ltd. boosted its holdings in Fifth Third Bancorp by 2.6% in the 3rd quarter. Invesco Ltd. now owns 21,224,600 shares of the financial services provider’s stock valued at $945,556,000 after purchasing an additional 546,914 shares during the period. Geode Capital Management LLC boosted its holdings in Fifth Third Bancorp by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 18,197,466 shares of the financial services provider’s stock valued at $848,672,000 after purchasing an additional 96,656 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Fifth Third Bancorp by 16.7% in the 3rd quarter. Bank of America Corp DE now owns 16,037,185 shares of the financial services provider’s stock valued at $714,457,000 after purchasing an additional 2,293,939 shares during the period. 83.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. TD Cowen reissued a “buy” rating and issued a $60.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, February 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $57.00 price target on shares of Fifth Third Bancorp in a report on Monday, May 4th. Wolfe Research reduced their price target on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the company an “overweight” rating in a report on Thursday, April 30th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.19.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $48.56 on Tuesday. The company has a 50-day moving average of $48.63 and a 200-day moving average of $48.28. The company has a market capitalization of $44.01 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.02 and a beta of 0.92. Fifth Third Bancorp has a 52 week low of $37.28 and a 52 week high of $55.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.87. The company had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same period last year, the firm earned $0.71 EPS. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 53.69%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Peter L. Sefzik sold 20,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the sale, the executive vice president owned 189,382 shares in the company, valued at $9,556,215.72. This trade represents a 9.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kevin J. Khanna sold 6,000 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $50.77, for a total transaction of $304,620.00. Following the sale, the executive vice president owned 76,299 shares of the company’s stock, valued at $3,873,700.23. This trade represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.51% of the company’s stock.

Fifth Third Bancorp 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.