Apollon Wealth Management LLC Purchases 11,598 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Apollon Wealth Management LLC boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 60.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,912 shares of the financial services provider’s stock after purchasing an additional 11,598 shares during the quarter. Apollon Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its holdings in Fifth Third Bancorp by 6.0% during the fourth quarter. Daiwa Securities Group Inc. now owns 61,168 shares of the financial services provider’s stock worth $2,110,000 after buying an additional 3,476 shares during the last quarter. Nordea Investment Management AB boosted its stake in Fifth Third Bancorp by 57.5% during the 4th quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after acquiring an additional 269,152 shares during the last quarter. Raymond James & Associates grew its holdings in Fifth Third Bancorp by 11.7% during the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock valued at $22,805,000 after purchasing an additional 69,273 shares during the period. International Assets Investment Management LLC increased its stake in Fifth Third Bancorp by 48.0% in the fourth quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock valued at $12,102,000 after purchasing an additional 113,838 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Fifth Third Bancorp by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after purchasing an additional 393,937 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO James C. Leonard sold 26,500 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. 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 that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the sale, 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 accessible through this hyperlink. Also, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction dated 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 owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,857 shares of company stock valued at $1,787,638. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp Trading Up 0.4 %

FITB stock opened at $38.65 on Friday. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The company has a fifty day moving average price of $36.15 and a two-hundred day moving average price of $32.99. Fifth Third Bancorp has a one year low of $22.49 and a one year high of $38.71. 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 released its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period in the prior year, the firm earned $0.78 EPS. Equities analysts anticipate that Fifth Third Bancorp will post 3.22 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on FITB. JPMorgan Chase & Co. raised shares of Fifth Third Bancorp from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $37.50 to $39.50 in a report on Wednesday, May 1st. Royal Bank of Canada increased their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Stephens reiterated an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. UBS Group reiterated a “neutral” rating and issued a $39.00 price objective (down from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. Finally, Morgan Stanley restated an “equal weight” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.50.

Fifth Third Bancorp Company 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.