VanWeelden Wealth Management LLC Invests $870,000 in Fifth Third Bancorp (NASDAQ:FITB)

VanWeelden Wealth Management LLC purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,566 shares of the financial services provider's stock, valued at approximately $870,000. Fifth Third Bancorp comprises about 0.8% of VanWeelden Wealth Management LLC's investment portfolio, making the stock its 14th biggest holding.

Several other large investors have also bought and sold shares of the business. OneDigital Investment Advisors LLC lifted its holdings in Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider's stock valued at $878,000 after buying an additional 222 shares during the period. Transamerica Financial Advisors Inc. lifted its holdings in Fifth Third Bancorp by 7.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider's stock valued at $143,000 after buying an additional 232 shares during the period. Eads & Heald Wealth Management lifted its holdings in Fifth Third Bancorp by 3.0% in the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider's stock valued at $347,000 after buying an additional 235 shares during the period. Valley National Advisers Inc. lifted its holdings in Fifth Third Bancorp by 3.6% in the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider's stock valued at $285,000 after buying an additional 236 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Fifth Third Bancorp by 4.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider's stock worth $231,000 after purchasing an additional 246 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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Fifth Third Bancorp Stock Up 1.1 %

Fifth Third Bancorp stock traded up $0.44 during mid-day trading on Monday, reaching $38.99. The company's stock had a trading volume of 5,853,365 shares, compared to its average volume of 4,192,268. The company has a market capitalization of $26.05 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The business's 50 day simple moving average is $42.84 and its 200 day simple moving average is $43.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Analyst Upgrades and Downgrades

FITB has been the topic of several analyst reports. Keefe, Bruyette & Woods increased 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 report on Wednesday, December 4th. Piper Sandler reiterated an "overweight" rating and issued a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Truist Financial increased their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Stephens reiterated an "equal weight" rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Finally, DA Davidson increased their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $47.36.

Insider Activity

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm'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 completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

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.