Axxcess Wealth Management LLC Sells 1,872 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Axxcess Wealth Management LLC decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 18.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,356 shares of the financial services provider’s stock after selling 1,872 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $288,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of FITB. Boston Partners increased its position in Fifth Third Bancorp by 32.1% in the 3rd quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock worth $331,188,000 after buying an additional 3,176,903 shares during the period. Smead Capital Management Inc. acquired a new stake in Fifth Third Bancorp during the fourth quarter worth $67,354,000. Invesco Ltd. increased its holdings in Fifth Third Bancorp by 8.4% in the 3rd quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock valued at $492,117,000 after buying an additional 1,500,653 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $44,708,000. Finally, Barclays PLC boosted its position in shares of Fifth Third Bancorp by 66.0% during the 3rd quarter. Barclays PLC now owns 2,307,073 shares of the financial services provider’s stock valued at $58,437,000 after acquiring an additional 917,549 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. DA Davidson lifted their price objective on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Monday, April 22nd. Stephens reissued an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $40.00 target price (up previously from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Royal Bank of Canada lifted their price target on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.50.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $36.38, for a total transaction of $540,497.66. Following the transaction, the executive vice president now owns 46,646 shares in the company, valued at approximately $1,696,981.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at $5,134,575. The disclosure for this sale can be found here. Insiders sold a total of 48,857 shares of company stock valued at $1,787,638 over the last three months. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $38.48 on Thursday. The stock has a market capitalization of $26.21 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.42 and a beta of 1.24. 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 1-year low of $22.49 and a 1-year high of $38.51. The business has a 50-day moving average price of $36.05 and a two-hundred day moving average price of $32.95.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. Equities analysts predict that Fifth Third Bancorp will post 3.22 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

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 $0.35 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 annualized dividend and a dividend yield of 3.64%. 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.