14,444 Shares in Fifth Third Bancorp (NASDAQ:FITB) Purchased by RFG Bristol Wealth Advisors LLC

RFG Bristol Wealth Advisors LLC purchased a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,444 shares of the financial services provider's stock, valued at approximately $611,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of FITB. FMR LLC boosted its stake in shares of Fifth Third Bancorp by 5.7% during the 3rd quarter. FMR LLC now owns 1,692,599 shares of the financial services provider's stock worth $72,511,000 after acquiring an additional 91,574 shares in the last quarter. Townsquare Capital LLC purchased a new position in Fifth Third Bancorp in the 3rd quarter worth about $804,000. CreativeOne Wealth LLC acquired a new stake in Fifth Third Bancorp during the 3rd quarter worth about $271,000. Captrust Financial Advisors lifted its stake in Fifth Third Bancorp by 0.6% during the third quarter. Captrust Financial Advisors now owns 144,114 shares of the financial services provider's stock valued at $6,174,000 after buying an additional 887 shares in the last quarter. Finally, Paloma Partners Management Co boosted its holdings in shares of Fifth Third Bancorp by 201.6% in the third quarter. Paloma Partners Management Co now owns 14,400 shares of the financial services provider's stock worth $617,000 after buying an additional 28,567 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the business'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 sale, the chief operating officer now owns 244,487 shares in the company, 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 company insiders.

Fifth Third Bancorp Stock Down 4.8 %

Shares of NASDAQ FITB traded down $1.72 during mid-day trading on Friday, reaching $33.75. 9,710,319 shares of the company traded hands, compared to its average volume of 4,395,740. Fifth Third Bancorp has a fifty-two week low of $32.75 and a fifty-two week high of $49.07. 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's fifty day moving average is $41.50 and its two-hundred day moving average is $43.36. The stock has a market cap of $22.55 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is currently 47.13%.

Wall Street Analyst Weigh In

Several brokerages recently commented on FITB. Royal Bank of Canada restated an "outperform" rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Truist Financial raised their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday. Piper Sandler restated an "overweight" rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, DA Davidson upped 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.19.

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.