Ashton Thomas Private Wealth LLC Acquires 392 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Ashton Thomas Private Wealth LLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,083 shares of the financial services provider’s stock after purchasing an additional 392 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Fifth Third Bancorp were worth $558,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FITB. 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 lifted its position 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 purchasing an additional 316 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $28,000. BankPlus Trust Department bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter worth $36,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $39.28 on Tuesday. The company has a 50 day simple moving average of $43.16 and a two-hundred day simple moving average of $43.80. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The company has a market capitalization of $26.24 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Analyst Ratings Changes

FITB has been the subject of several analyst reports. DA Davidson increased their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Citigroup increased their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays boosted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Stephens reiterated an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Finally, Wells Fargo & Company boosted their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $47.31.

About Fifth Third Bancorp

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.