SeaCrest Wealth Management LLC bought a new stake in Fifth Third Bancorp (NASDAQ:FITB – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,828 shares of the financial services provider’s stock, valued at approximately $204,000.
Several other large investors have also recently bought and sold shares of the company. Accurate Wealth Management LLC raised its position in Fifth Third Bancorp by 7.9% in the fourth quarter. Accurate Wealth Management LLC now owns 10,847 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 798 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $177,000. Wedmont Private Capital raised its position in shares of Fifth Third Bancorp by 5.8% during the fourth quarter. Wedmont Private Capital now owns 10,077 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 550 shares during the last quarter. Czech National Bank raised its position in shares of Fifth Third Bancorp by 5.4% during the fourth quarter. Czech National Bank now owns 145,387 shares of the financial services provider’s stock worth $6,147,000 after acquiring an additional 7,501 shares during the last quarter. Finally, Graypoint LLC raised its position in shares of Fifth Third Bancorp by 2.4% during the fourth quarter. Graypoint LLC now owns 11,534 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 275 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on FITB. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Truist Financial began coverage on Fifth Third Bancorp in a research report on Tuesday, January 7th. They set a “buy” rating and a $51.00 price objective for the company. Keefe, Bruyette & Woods raised 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. Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, Evercore ISI raised 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $45.92.
Fifth Third Bancorp Trading Up 2.5 %
Shares of Fifth Third Bancorp stock opened at $44.34 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. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The stock has a 50 day moving average price of $45.02 and a two-hundred day moving average price of $42.82. The stock has a market capitalization of $29.73 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24.
Fifth Third Bancorp (NASDAQ:FITB – Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business posted $0.92 EPS. The company’s revenue was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.
Fifth Third Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given 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 49.17%.
Insider Activity at Fifth Third Bancorp
In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The stock was 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 of the company’s stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.
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