Sound View Wealth Advisors Group LLC Sells 2,767 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Sound View Wealth Advisors Group LLC lessened its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.1% during the 4th quarter, Holdings Channel reports. The fund owned 87,695 shares of the financial services provider’s stock after selling 2,767 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Fifth Third Bancorp were worth $3,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth $25,000. Sierra Ocean LLC acquired a new stake in Fifth Third Bancorp during the 4th quarter worth about $28,000. Venturi Wealth Management LLC grew its position in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the period. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp during the 4th quarter worth about $29,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Fifth Third Bancorp during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays increased their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler restated an “overweight” rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Citigroup raised their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, 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 report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $47.31.

Fifth Third Bancorp Stock Up 0.5 %

NASDAQ:FITB opened at $40.06 on Friday. 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 stock’s fifty day moving average is $43.23 and its two-hundred day moving average is $43.79. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.