Allworth Financial LP Buys 477 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Allworth Financial LP increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,559 shares of the financial services provider’s stock after purchasing an additional 477 shares during the quarter. Allworth Financial LP’s holdings in Fifth Third Bancorp were worth $332,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of FITB. Blue Trust Inc. raised its holdings in Fifth Third Bancorp by 318.2% in the 3rd quarter. Blue Trust Inc. now owns 6,749 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 5,135 shares during the period. Sequoia Financial Advisors LLC increased its stake in Fifth Third Bancorp by 6.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 13,845 shares of the financial services provider’s stock worth $593,000 after buying an additional 813 shares in the last quarter. Signaturefd LLC increased its stake in Fifth Third Bancorp by 3.0% in the 3rd quarter. Signaturefd LLC now owns 12,792 shares of the financial services provider’s stock worth $548,000 after buying an additional 368 shares in the last quarter. Great Lakes Retirement Inc. increased its stake in Fifth Third Bancorp by 886.9% in the 3rd quarter. Great Lakes Retirement Inc. now owns 8,556 shares of the financial services provider’s stock worth $367,000 after buying an additional 7,689 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Fifth Third Bancorp by 8.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 21,705 shares of the financial services provider’s stock worth $930,000 after buying an additional 1,740 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Down 1.7 %

Shares of NASDAQ:FITB opened at $42.88 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $33.03 and a 12 month high of $49.07. The company has a 50-day moving average price of $43.55 and a 200 day moving average price of $43.58. The company has a market cap of $28.75 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 3.45%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Analyst Ratings Changes

FITB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price target 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. Barclays increased their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Citigroup raised their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.75.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 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.