Donoghue Forlines LLC Takes Position in Fifth Third Bancorp (NASDAQ:FITB)

Donoghue Forlines LLC purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 34,317 shares of the financial services provider’s stock, valued at approximately $1,451,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Janney Montgomery Scott LLC raised its stake in shares of Fifth Third Bancorp by 9.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 224,138 shares of the financial services provider’s stock worth $9,477,000 after purchasing an additional 19,072 shares during the period. Eads & Heald Wealth Management grew its position in shares of Fifth Third Bancorp by 3.0% during the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 235 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Fifth Third Bancorp by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 373,380 shares of the financial services provider’s stock worth $15,925,000 after purchasing an additional 1,492 shares during the period. MCF Advisors LLC boosted its holdings in Fifth Third Bancorp by 1.9% in the 4th quarter. MCF Advisors LLC now owns 42,801 shares of the financial services provider’s stock worth $1,821,000 after buying an additional 794 shares during the period. Finally, Proquility Private Wealth Partners LLC grew its stake in Fifth Third Bancorp by 0.9% during the fourth quarter. Proquility Private Wealth Partners LLC now owns 100,544 shares of the financial services provider’s stock valued at $4,251,000 after acquiring an additional 864 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Citigroup raised their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Wells Fargo & Company increased their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday. One 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 stock presently has an average rating of “Hold” and a consensus target price of $46.14.

Fifth Third Bancorp Trading Down 1.3 %

NASDAQ:FITB opened at $44.29 on Thursday. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $29.70 billion, a P/E ratio of 14.05, a PEG ratio of 1.95 and a beta of 1.24. The company’s 50-day simple moving average is $44.85 and its 200 day simple moving average is $43.02.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.34%. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Insider Transactions 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 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 transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by 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.