ORG Wealth Partners LLC Has $74,000 Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

ORG Wealth Partners LLC lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 17.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,740 shares of the financial services provider’s stock after selling 370 shares during the period. ORG Wealth Partners LLC’s holdings in Fifth Third Bancorp were worth $74,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FITB. Charles Schwab Investment Management Inc. boosted its position in Fifth Third Bancorp by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after purchasing an additional 732,651 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $28,490,000. Millennium Management LLC grew its stake in shares of Fifth Third Bancorp by 896.7% in the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after buying an additional 583,781 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Fifth Third Bancorp by 76.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock worth $57,005,000 after buying an additional 575,449 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after acquiring an additional 409,292 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Down 3.1 %

NASDAQ FITB opened at $41.12 on Friday. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The stock has a market cap of $27.57 billion, a PE ratio of 13.66, a PEG ratio of 2.18 and a beta of 1.24. The firm has a 50-day simple moving average of $45.19 and a 200 day simple moving average of $42.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. Fifth Third Bancorp’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.92 EPS. On average, research analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Insider Activity

In other news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FITB. Truist Financial assumed coverage on shares of Fifth Third Bancorp in a research note on Tuesday. They set a “buy” rating and a $51.00 price target on the stock. Wells Fargo & Company increased their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Barclays boosted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods increased their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.92.

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.