WealthBridge Capital Management LLC Purchases Shares of 10,041 Fifth Third Bancorp (NASDAQ:FITB)

WealthBridge Capital Management LLC bought a new stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,041 shares of the financial services provider's stock, valued at approximately $394,000.

Other large investors also recently made changes to their positions in the company. HWG Holdings LP bought a new position in Fifth Third Bancorp during the 1st quarter worth $27,000. Quarry LP acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth approximately $29,000. REAP Financial Group LLC increased its holdings in shares of Fifth Third Bancorp by 161.8% during the fourth quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock worth $33,000 after purchasing an additional 487 shares during the period. Grove Bank & Trust raised its position 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. Finally, Ethos Financial Group LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $39,000. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $41.51 on Friday. The company has a market capitalization of $27.71 billion, a PE ratio of 13.18, a P/E/G ratio of 1.43 and a beta of 0.90. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81. The company has a 50 day simple moving average of $38.09 and a two-hundred day simple moving average of $40.16.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.65% and a return on equity of 13.64%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the firm earned $0.70 earnings per share. Research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

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

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Monday, June 30th. Fifth Third Bancorp's payout ratio is 46.98%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Fifth Third Bancorp from $48.00 to $52.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Citigroup cut their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Baird R W raised shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Barclays cut their price objective on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Morgan Stanley cut their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $47.53.

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.

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