My Legacy Advisors LLC Has $1.20 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

My Legacy Advisors LLC lowered its stake in Fifth Third Bancorp (NASDAQ:FITB) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,203 shares of the financial services provider’s stock after selling 737 shares during the period. My Legacy Advisors LLC’s holdings in Fifth Third Bancorp were worth $1,197,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC grew its position in shares of Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after purchasing an additional 222 shares during the last quarter. Transamerica Financial Advisors Inc. boosted its stake in Fifth Third Bancorp by 7.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 232 shares during the period. Quent Capital LLC grew its holdings in Fifth Third Bancorp by 9.9% in the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after buying an additional 248 shares in the last quarter. Brooklyn Investment Group increased its position in Fifth Third Bancorp by 9.1% during the 4th quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock worth $131,000 after buying an additional 257 shares during the period. Finally, Diversified Trust Co lifted its holdings in shares of Fifth Third Bancorp by 2.6% during the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after buying an additional 259 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Wells Fargo & Company increased their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler lifted their price objective on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Citigroup increased their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $45.92.

Insider Activity

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, 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 document filed with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $44.34 on Friday. The company’s 50 day moving average price is $45.02 and its two-hundred day moving average price is $42.82. The firm has a market capitalization of $29.73 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.79 and a beta of 1.24. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the business earned $0.92 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 49.17%.

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.