Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Ibex Wealth Advisors

Ibex Wealth Advisors lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 90.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,576 shares of the financial services provider's stock after selling 100,184 shares during the quarter. Ibex Wealth Advisors' holdings in Fifth Third Bancorp were worth $447,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FITB. Retirement Wealth Solutions LLC purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth about $25,000. Venturi Wealth Management LLC lifted its stake in shares of Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after buying an additional 316 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the third quarter valued at approximately $36,000. Hexagon Capital Partners LLC increased its position in shares of Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp in the 3rd quarter worth approximately $39,000. Institutional investors own 83.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FITB. Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Truist Financial raised their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Piper Sandler reissued an "overweight" rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Finally, DA Davidson upped their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $46.75.

Fifth Third Bancorp Trading Up 1.1 %

Fifth Third Bancorp stock traded up $0.51 during midday trading on Thursday, reaching $44.68. The stock had a trading volume of 851,242 shares, compared to its average volume of 5,120,538. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-week high of $49.07. The company has a fifty day moving average of $44.61 and a 200 day moving average of $43.27. The firm has a market cap of $29.96 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24. The company has a quick ratio of 0.82, 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 was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp's payout ratio is currently 47.13%.

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.