Eads & Heald Wealth Management Purchases 235 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Eads & Heald Wealth Management increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 8,201 shares of the financial services provider’s stock after purchasing an additional 235 shares during the period. Eads & Heald Wealth Management’s holdings in Fifth Third Bancorp were worth $347,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Fifth Third Bancorp by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 373,380 shares of the financial services provider’s stock worth $15,925,000 after buying an additional 1,492 shares in the last quarter. MCF Advisors LLC raised its stake in Fifth Third Bancorp by 1.9% during the fourth quarter. MCF Advisors LLC now owns 42,801 shares of the financial services provider’s stock worth $1,821,000 after acquiring an additional 794 shares in the last quarter. Proquility Private Wealth Partners LLC raised its stake in Fifth Third Bancorp by 0.9% during the fourth quarter. Proquility Private Wealth Partners LLC now owns 100,544 shares of the financial services provider’s stock worth $4,251,000 after acquiring an additional 864 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Fifth Third Bancorp by 8.6% in the fourth quarter. Atomi Financial Group Inc. now owns 10,571 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 835 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Fifth Third Bancorp by 3.2% during the 4th quarter. UMB Bank n.a. now owns 18,442 shares of the financial services provider’s stock valued at $780,000 after purchasing an additional 570 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Performance

FITB stock opened at $44.86 on Wednesday. The firm has a market cap of $30.08 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average price of $44.96 and a 200-day moving average price of $42.95. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.30%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Analysts Set New Price Targets

FITB has been the subject of several research reports. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Piper Sandler upped their target price on Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods lifted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.92.

Insiders Place Their Bets

In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.