Sanibel Captiva Trust Company Inc. Takes $400,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Sanibel Captiva Trust Company Inc. purchased a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,452 shares of the financial services provider's stock, valued at approximately $400,000.

A number of other large investors have also added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC lifted its position in Fifth Third Bancorp by 89.5% in 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 in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Fifth Third Bancorp during the 3rd quarter valued at $36,000. Hexagon Capital Partners LLC increased its holdings in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock worth $37,000 after purchasing an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Fifth Third Bancorp in the third quarter worth $39,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 11.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Price Performance

Shares of FITB traded up $1.07 during mid-day trading on Monday, reaching $44.34. The stock had a trading volume of 9,304,861 shares, compared to its average volume of 3,879,152. The firm has a market cap of $29.73 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.79 and a beta of 1.24. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The business has a fifty day moving average of $45.02 and a 200 day moving average of $42.90. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter in the previous year, the company posted $0.92 EPS. The company's quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts predict that Fifth Third Bancorp will post 3.31 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.34%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 49.17%.

Wall Street Analyst Weigh In

Several research firms recently commented on FITB. Truist Financial began coverage on Fifth Third Bancorp in a report on Tuesday, January 7th. They issued a "buy" rating and a $51.00 price objective for the company. Piper Sandler lifted their price target on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley raised their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. One 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $45.92.

Fifth Third Bancorp 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.