Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Stablepoint Partners LLC

Stablepoint Partners LLC lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,960 shares of the financial services provider’s stock after purchasing an additional 299 shares during the period. Stablepoint Partners LLC’s holdings in Fifth Third Bancorp were worth $4,607,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $25,000. Venturi Wealth Management LLC increased its holdings in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Fifth Third Bancorp during the 3rd quarter worth approximately $36,000. Hexagon Capital Partners LLC grew its position 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 acquiring an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at approximately $39,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Up 0.8 %

Shares of FITB stock opened at $44.18 on Friday. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.82 and a current ratio of 0.80. The business’s fifty day moving average is $44.72 and its 200-day moving average is $43.08. The stock has a market cap of $29.62 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Evercore ISI lifted their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday. Truist Financial lifted their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $46.75.

Insider Buying and Selling at Fifth Third Bancorp

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

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.