SRS Capital Advisors Inc. Increases Stake in Fifth Third Bancorp (NASDAQ:FITB)

SRS Capital Advisors Inc. boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 855.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,434 shares of the financial services provider’s stock after purchasing an additional 11,133 shares during the period. SRS Capital Advisors Inc.’s holdings in Fifth Third Bancorp were worth $526,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC grew its position 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 worth $29,000 after buying an additional 316 shares during the last quarter. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $29,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $33,000. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FITB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Citigroup lifted their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Wells Fargo & Company lifted their price target 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. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Truist Financial lifted their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Stock Down 1.0 %

FITB stock opened at $43.05 on Tuesday. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07. The business has a fifty day moving average price of $43.44 and a 200-day moving average price of $43.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $28.65 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.42 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. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.