VanWeelden Wealth Management LLC Buys Shares of 20,566 Fifth Third Bancorp (NASDAQ:FITB)

VanWeelden Wealth Management LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 20,566 shares of the financial services provider’s stock, valued at approximately $870,000. Fifth Third Bancorp accounts for 0.8% of VanWeelden Wealth Management LLC’s investment portfolio, making the stock its 14th biggest position.

Several other large investors also recently added to or reduced their stakes in the company. PGGM Investments raised its stake in Fifth Third Bancorp by 58.1% during the 4th quarter. PGGM Investments now owns 172,150 shares of the financial services provider’s stock valued at $7,279,000 after purchasing an additional 63,229 shares during the period. HBK Sorce Advisory LLC increased its stake in shares of Fifth Third Bancorp by 3.8% in the fourth quarter. HBK Sorce Advisory LLC now owns 30,884 shares of the financial services provider’s stock worth $1,306,000 after acquiring an additional 1,137 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Fifth Third Bancorp by 78.5% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 250,045 shares of the financial services provider’s stock worth $10,682,000 after acquiring an additional 110,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Fifth Third Bancorp by 3.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,932 shares of the financial services provider’s stock worth $2,280,000 after acquiring an additional 1,795 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in shares of Fifth Third Bancorp by 3.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 178,014 shares of the financial services provider’s stock worth $7,526,000 after acquiring an additional 6,410 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Up 0.8 %

Shares of NASDAQ:FITB opened at $38.53 on Thursday. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week high of $49.07. The company has a market cap of $25.74 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.42 and a beta of 1.21. The stock’s 50-day moving average is $43.01 and its 200-day moving average is $43.73. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FITB shares. Keefe, Bruyette & Woods upped 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 note on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Barclays upped their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Truist Financial increased their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Stephens reissued an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.31.

Insider Buying and Selling

In related news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated 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 $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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.