Callan Capital LLC Acquires New Shares in Fifth Third Bancorp (NASDAQ:FITB)

Callan Capital LLC acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 6,852 shares of the financial services provider’s stock, valued at approximately $236,000.

Several other hedge funds also recently modified their holdings of FITB. GoalVest Advisory LLC boosted its holdings in shares of Fifth Third Bancorp by 145.5% during the 4th quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares in the last quarter. Denali Advisors LLC bought a new position in Fifth Third Bancorp during the 4th quarter worth $36,000. Financial Management Professionals Inc. raised its position in 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 purchasing an additional 1,000 shares during the last quarter. Authentikos Wealth Advisory LLC bought a new position in Fifth Third Bancorp during the 3rd quarter worth $46,000. Finally, Friedenthal Financial bought a new position in Fifth Third Bancorp during the 4th quarter worth $48,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO James C. Leonard sold 26,500 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders have sold a total of 46,357 shares of company stock worth $1,693,888 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FITB shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price objective (up from $39.00) on shares of Fifth Third Bancorp in a research report on Monday. Morgan Stanley reaffirmed an “equal weight” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a research report on Monday. Royal Bank of Canada boosted their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Stephens reaffirmed an “equal weight” rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, March 19th. Finally, Barclays boosted their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $36.31.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB traded up $0.08 during trading on Friday, hitting $36.90. 2,474,529 shares of the company were exchanged, compared to its average volume of 5,400,542. The company has a market cap of $25.13 billion, a PE ratio of 11.71, a P/E/G ratio of 1.41 and a beta of 1.27. The stock has a 50 day moving average of $35.54 and a 200 day moving average of $32.22. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The firm 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 quarter in the prior year, the business posted $0.78 earnings per share. As a group, equities research analysts predict that Fifth Third Bancorp will post 3.2 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.79%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Fifth Third Bancorp Profile

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.