Crossmark Global Holdings Inc. Sells 424 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Crossmark Global Holdings Inc. lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 62,401 shares of the financial services provider’s stock after selling 424 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Fifth Third Bancorp were worth $2,638,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC boosted its holdings in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp during the 3rd quarter valued at approximately $36,000. Hexagon Capital Partners LLC lifted its position in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at $39,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $43.93 on Thursday. The stock has a market cap of $29.46 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.93 and a beta of 1.24. 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 has a fifty-two week low of $32.29 and a fifty-two week high of $49.07. The firm’s 50-day simple moving average is $44.91 and its 200 day simple moving average is $43.02.

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 given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.37%. Fifth Third Bancorp’s payout ratio is 47.13%.

Analyst Ratings Changes

FITB has been the topic of several recent analyst reports. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods increased their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Evercore ISI lifted their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.14.

Insider Buying and Selling

In other news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated Monday, October 28th. The shares were 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 owns 55,913 shares in the company, valued at $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.