Inceptionr LLC Boosts Stake in Fifth Third Bancorp (NASDAQ:FITB)

Inceptionr LLC boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 28.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,466 shares of the financial services provider's stock after acquiring an additional 8,264 shares during the quarter. Inceptionr LLC's holdings in Fifth Third Bancorp were worth $1,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter valued at about $25,000. Sierra Ocean LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter valued at about $28,000. Venturi Wealth Management LLC boosted its holdings in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 316 shares during the period. BankPlus Trust Department purchased a new stake in Fifth Third Bancorp during the 4th quarter valued at about $29,000. Finally, Midwest Capital Advisors LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter valued at about $33,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on FITB. DA Davidson increased their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Stephens reaffirmed an "equal weight" rating and set a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday. Finally, Citigroup upped their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp has a consensus rating of "Hold" and a consensus price target of $47.31.

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Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction 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 transaction, the chief operating officer now owns 244,487 shares of the company's stock, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp Stock Up 0.5 %

Shares of FITB traded up $0.20 on Friday, reaching $40.06. The stock had a trading volume of 5,773,180 shares, compared to its average volume of 4,718,686. The firm has a market capitalization of $26.66 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50-day simple moving average of $43.23 and a 200-day simple moving average of $43.77. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp's payout ratio is 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.