Advisor OS LLC Invests $212,000 in Fifth Third Bancorp (NASDAQ:FITB)

Advisor OS LLC bought a new position in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,025 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FITB. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $25,000. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $28,000. Venturi Wealth Management LLC lifted its holdings in shares of 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 worth $29,000 after acquiring an additional 316 shares during the last quarter. BankPlus Trust Department bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $29,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $33,000. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’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 transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $43.47 on Friday. The company has a market cap of $29.15 billion, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Fifth Third Bancorp has a 52 week low of $33.48 and a 52 week high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $43.43 and a 200-day moving average of $43.74.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FITB. DA Davidson upped their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Citigroup upped their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Keefe, Bruyette & Woods upped their price objective 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, Truist Financial upped their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.