Gibraltar Capital Management Inc. Makes New Investment in Fifth Third Bancorp (NASDAQ:FITB)

Gibraltar Capital Management Inc. purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, HoldingsChannel reports. The fund purchased 24,805 shares of the financial services provider’s stock, valued at approximately $856,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. GoalVest Advisory LLC lifted its holdings in Fifth Third Bancorp by 145.5% in the 4th 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. Denali Advisors LLC purchased a new position in Fifth Third Bancorp in the fourth quarter worth approximately $36,000. Financial Management Professionals Inc. grew its position in Fifth Third Bancorp by 1,000.0% in the fourth 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 during the period. Authentikos Wealth Advisory LLC purchased a new position in Fifth Third Bancorp in the third quarter worth approximately $46,000. Finally, Friedenthal Financial purchased a new position in Fifth Third Bancorp in the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity

In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the company’s stock in a transaction dated 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 approximately $1,696,981.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp 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 completion of 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 legal filing with the SEC, which can be accessed through this link. Also, 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 owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. In the last three months, insiders sold 46,357 shares of company stock worth $1,693,888. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

FITB has been the subject of several analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. 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. DA Davidson upped their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. UBS Group restated a “neutral” rating and set a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a research note on Thursday, April 4th. Finally, Stephens restated an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. One investment 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 MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.31.

Fifth Third Bancorp Stock Down 1.5 %

NASDAQ:FITB traded down $0.54 during trading hours on Tuesday, hitting $36.46. The company’s stock had a trading volume of 3,314,767 shares, compared to its average volume of 5,352,631. The stock has a market capitalization of $24.83 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The stock has a fifty day moving average of $35.65 and a 200-day moving average of $32.50. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data 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 company had revenue of $3.32 billion for the quarter, compared to analyst estimates 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 last year, the company posted $0.78 earnings per share. On average, equities analysts forecast that Fifth Third Bancorp will post 3.2 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.84%. Fifth Third Bancorp’s payout ratio is 44.44%.

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.