Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Steph & Co.

Steph & Co. lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 42.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,536 shares of the financial services provider’s stock after selling 1,834 shares during the quarter. Steph & Co.’s holdings in Fifth Third Bancorp were worth $107,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its position 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 worth $29,000 after acquiring an additional 316 shares during the period. Legacy Investment Solutions LLC purchased a new stake in Fifth Third Bancorp in the 3rd quarter valued at about $36,000. Hexagon Capital Partners LLC lifted its position in Fifth Third Bancorp by 56.9% in the third 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. purchased a new position in Fifth Third Bancorp during the third quarter worth about $39,000. Finally, Versant Capital Management Inc increased its position 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 valued at $43,000 after acquiring an additional 703 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Truist Financial initiated coverage on Fifth Third Bancorp in a research note on Tuesday, January 7th. They issued a “buy” rating and a $51.00 price objective for the company. Evercore ISI increased their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted 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. Finally, Piper Sandler boosted 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. 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.92.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The shares were 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 directly owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Down 1.7 %

Shares of Fifth Third Bancorp stock opened at $43.27 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $29.01 billion, a P/E ratio of 14.38, a PEG ratio of 1.79 and a beta of 1.24. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The company’s fifty day moving average is $45.11 and its two-hundred day moving average is $42.76.

Fifth Third Bancorp (NASDAQ:FITB) last released 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 company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the prior year, the business earned $0.92 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Analysts forecast that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 49.17%.

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.