New England Capital Financial Advisors LLC Sells 365 Shares of Fifth Third Bancorp (NASDAQ:FITB)

New England Capital Financial Advisors LLC lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,721 shares of the financial services provider’s stock after selling 365 shares during the quarter. Fifth Third Bancorp makes up 0.3% of New England Capital Financial Advisors LLC’s holdings, making the stock its 27th biggest position. New England Capital Financial Advisors LLC’s holdings in Fifth Third Bancorp were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $25,000. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $28,000. Venturi Wealth Management LLC lifted its stake in 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 during the last quarter. Y.D. More Investments Ltd grew its holdings in Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 449 shares during the period. Finally, Legacy Investment Solutions LLC bought a new stake in Fifth Third Bancorp in the third quarter valued at approximately $36,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $42.88 on Friday. The stock has a market cap of $28.75 billion, a PE ratio of 13.66, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a quick ratio of 0.80, a current 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 business’s 50-day moving average price is $43.50 and its two-hundred day moving average price is $43.64.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FITB shares. DA Davidson boosted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their target price on shares of 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. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One equities research 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, the company has an average rating of “Hold” and a consensus price target of $46.75.

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.