GW Henssler & Associates Ltd. Makes New $21.44 Million Investment in Fifth Third Bancorp $FITB

Key Points

• GW Henssler & Associates Ltd. invested approximately $21.44 million in Fifth Third Bancorp, acquiring 546,920 shares, which constitutes around 1.2% of their portfolio.
• Several brokerages, including Jefferies Financial Group and Wells Fargo, have issued positive ratings and raised price targets for Fifth Third Bancorp, with a consensus target of $47.80.
• The company declared a quarterly dividend of $0.37 per share and initiated a share buyback program allowing for the repurchase of 100 million outstanding shares.

GW Henssler & Associates Ltd. acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 546,920 shares of the financial services provider's stock, valued at approximately $21,439,000. Fifth Third Bancorp comprises about 1.2% of GW Henssler & Associates Ltd.'s holdings, making the stock its 27th biggest position. GW Henssler & Associates Ltd. owned 0.08% of Fifth Third Bancorp as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. HWG Holdings LP purchased a new position in Fifth Third Bancorp during the 1st quarter worth $27,000. Quarry LP purchased a new position in Fifth Third Bancorp during the 4th quarter worth $29,000. Larson Financial Group LLC raised its stake in shares of Fifth Third Bancorp by 91.3% during the 1st quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider's stock worth $29,000 after buying an additional 357 shares in the last quarter. REAP Financial Group LLC boosted its stake in shares of Fifth Third Bancorp by 161.8% in the fourth quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock valued at $33,000 after buying an additional 487 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Fifth Third Bancorp by 60.7% in the first quarter. Grove Bank & Trust now owns 887 shares of the financial services provider's stock valued at $35,000 after buying an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Wall Street Analyst Weigh In

FITB has been the subject of several research analyst reports. TD Cowen initiated coverage on Fifth Third Bancorp in a research report on Thursday, May 15th. They issued a "buy" rating and a $52.00 price objective for the company. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $48.00 to $52.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. DA Davidson raised Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $42.00 to $47.00 in a research note on Monday, June 9th. Cowen started coverage on Fifth Third Bancorp in a research note on Wednesday, May 14th. They issued a "buy" rating for the company. Finally, Jefferies Financial Group assumed coverage on Fifth Third Bancorp in a research note on Wednesday, May 21st. They issued a "buy" rating and a $47.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $47.80.

Fifth Third Bancorp Trading Up 1.5%

Fifth Third Bancorp stock traded up $0.68 during trading on Thursday, hitting $46.26. The company's stock had a trading volume of 3,104,574 shares, compared to its average volume of 4,879,272. The stock has a market capitalization of $30.62 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.48 and a beta of 0.93. The stock's fifty day moving average is $43.03 and its 200 day moving average is $40.00. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, June 30th. Fifth Third Bancorp's dividend payout ratio is presently 45.96%.

Fifth Third Bancorp announced that its Board of Directors has approved a stock buyback program on Monday, June 16th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

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.