Elevated Capital Advisors LLC Sells 636 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Elevated Capital Advisors LLC lowered its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 19,108 shares of the financial services provider’s stock after selling 636 shares during the period. Elevated Capital Advisors LLC’s holdings in Fifth Third Bancorp were worth $808,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FITB. Venturi Wealth Management LLC boosted its position in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth about $36,000. Hexagon Capital Partners LLC grew its stake in 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 valued at $37,000 after buying an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in Fifth Third Bancorp in the 3rd quarter valued at about $39,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Fifth Third Bancorp by 232.0% during the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 703 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Truist Financial initiated coverage on Fifth Third Bancorp in a research report on Tuesday, January 7th. They set a “buy” rating and a $51.00 price objective on the stock. Morgan Stanley boosted their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Keefe, Bruyette & Woods upped their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Barclays boosted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Citigroup raised their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One 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’s stock. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $45.92.

Insider Buying and Selling

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

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock traded up $0.61 on Monday, reaching $41.73. 5,710,996 shares of the company traded hands, compared to its average volume of 4,928,374. The company has a 50 day moving average of $45.19 and a 200 day moving average of $42.66. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The firm has a market capitalization of $27.98 billion, a PE ratio of 13.86, a PEG ratio of 2.18 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data 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). The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Equities analysts forecast that Fifth Third Bancorp will post 3.34 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

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.