Sequoia Financial Advisors LLC Has $683,000 Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Sequoia Financial Advisors LLC increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,151 shares of the financial services provider’s stock after purchasing an additional 2,306 shares during the period. Sequoia Financial Advisors LLC’s holdings in Fifth Third Bancorp were worth $683,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $28,000. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp in the third quarter valued at approximately $36,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $38.99 on Tuesday. The business’s fifty day simple moving average is $42.76 and its 200 day simple moving average is $43.67. The firm has a market capitalization of $26.05 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of 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 SEC, which is available through this link. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FITB has been the subject of a number of research reports. Truist Financial raised 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. DA Davidson raised 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. Barclays raised their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Finally, Stephens reissued an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $47.36.

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.