Oxford Financial Group LTD. LLC Invests $637,000 in Fifth Third Bancorp $FITB

Oxford Financial Group LTD. LLC acquired a new position in Fifth Third Bancorp (NASDAQ:FITB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 11,299 shares of the financial services provider’s stock, valued at approximately $637,000.

Several other large investors also recently added to or reduced their stakes in the business. Center for Financial Planning Inc. bought a new position in Fifth Third Bancorp in the 1st quarter worth about $25,000. SouthState Bank Corp raised its holdings in shares of Fifth Third Bancorp by 74.7% in the 1st quarter. SouthState Bank Corp now owns 552 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 236 shares in the last quarter. Monetary Solutions Ltd bought a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $29,000. Clearstead Trust LLC bought a new stake in shares of Fifth Third Bancorp during the 2nd quarter valued at about $29,000. Finally, Leonteq Securities AG purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $30,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 0.8%

FITB opened at $54.51 on Friday. The company has a market cap of $49.43 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.09 and a beta of 0.91. The business’s 50-day moving average price is $56.54 and its 200-day moving average price is $51.95. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a 12 month low of $40.04 and a 12 month high of $59.50.

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

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.40 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.60 annualized dividend and a yield of 2.9%. Fifth Third Bancorp’s payout ratio is presently 54.61%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stephens assumed coverage on shares of Fifth Third Bancorp in a research report on Monday, June 15th. They issued an “equal weight” rating and a $58.00 price objective on the stock. DA Davidson boosted their price target on shares of Fifth Third Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Weiss Ratings raised shares of Fifth Third Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, June 1st. Argus raised shares of Fifth Third Bancorp to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Citigroup raised their price objective on shares of Fifth Third Bancorp from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. One 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 data from MarketBeat.com, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average target price of $60.54.

About Fifth Third Bancorp

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.