Intellus Advisors LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 19,280 shares of the financial services provider's stock, valued at approximately $815,000.
A number of other hedge funds have also modified their holdings of the stock. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $25,000. Sierra Ocean LLC bought a new position in Fifth Third Bancorp in the 4th quarter valued at $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp in the fourth quarter worth $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp during the third quarter worth $36,000. Finally, Midwest Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth about $33,000. 83.79% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on FITB shares. Keefe, Bruyette & Woods boosted their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Morgan Stanley lowered their price objective on 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. Stephens reiterated an "equal weight" rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Barclays lifted their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, Truist Financial increased their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $46.86.
Check Out Our Latest Report on Fifth Third Bancorp
Fifth Third Bancorp Stock Performance
NASDAQ FITB remained flat at $40.17 on Wednesday. 2,936,509 shares of the company were exchanged, compared to its average volume of 4,226,745. The stock's fifty day moving average price is $42.44 and its two-hundred day moving average price is $43.56. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07. The firm has a market cap of $26.84 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.
Fifth Third Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.68%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 47.13%.
Insider Transactions at Fifth Third Bancorp
In related news, EVP Kevin P. Lavender sold 21,700 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.
Fifth Third Bancorp Profile
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Free Report)
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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