Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Wedmont Private Capital

Wedmont Private Capital grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,077 shares of the financial services provider’s stock after buying an additional 550 shares during the period. Wedmont Private Capital’s holdings in Fifth Third Bancorp were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FITB. Venturi Wealth Management LLC increased its stake in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $36,000. Hexagon Capital Partners LLC lifted its position in shares of Fifth Third Bancorp by 56.9% during the 3rd 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 in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Fifth Third Bancorp in the 3rd quarter valued at $39,000. Finally, Versant Capital Management Inc increased its holdings in Fifth Third Bancorp by 232.0% in the 4th quarter. Versant Capital Management Inc now owns 1,006 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 703 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler boosted their price target on Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.92.

Fifth Third Bancorp Price Performance

FITB stock opened at $44.00 on Thursday. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-week high of $49.07. The business has a fifty day moving average of $45.17 and a two-hundred day moving average of $42.75. The stock has a market cap of $29.50 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 earnings per share. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.34 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. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp 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 completion of the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed 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.