Envestnet Portfolio Solutions Inc. Has $4.12 Million Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Envestnet Portfolio Solutions Inc. raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 10.1% in the 4th quarter, HoldingsChannel reports. The firm owned 97,492 shares of the financial services provider’s stock after purchasing an additional 8,963 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Fifth Third Bancorp were worth $4,122,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of FITB. OneDigital Investment Advisors LLC raised its holdings in shares of Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after buying an additional 222 shares during the last quarter. Transamerica Financial Advisors Inc. raised its stake in shares of Fifth Third Bancorp by 7.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 232 shares during the last quarter. Eads & Heald Wealth Management lifted its position in shares of Fifth Third Bancorp by 3.0% during the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 235 shares in the last quarter. Valley National Advisers Inc. grew its stake in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 236 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Fifth Third Bancorp by 4.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 246 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity

In other news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $38.89 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $25.98 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.42 and a beta of 1.21. The business has a 50 day simple moving average of $42.68 and a 200 day simple moving average of $43.64. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week high of $49.07.

Analyst Ratings Changes

A number of research analysts have commented on FITB shares. Morgan Stanley decreased their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Stephens reiterated an “equal weight” rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Piper Sandler reissued an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Finally, Citigroup boosted their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $47.36.

Fifth Third Bancorp Company 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.