Fi3 FINANCIAL ADVISORS LLC Has $470,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)

Fi3 FINANCIAL ADVISORS LLC decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 13.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,008 shares of the financial services provider’s stock after selling 1,711 shares during the quarter. Fi3 FINANCIAL ADVISORS LLC’s holdings in Fifth Third Bancorp were worth $470,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $25,000. Sierra Ocean LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $29,000. Midwest Capital Advisors LLC acquired a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $33,000. Finally, Y.D. More Investments Ltd increased its position in Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 449 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp 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 transaction, the chief operating officer now directly owns 244,487 shares in the company, 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 owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Citigroup increased their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Piper Sandler reissued an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. DA Davidson increased their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley decreased their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and an average price target of $47.36.

Fifth Third Bancorp Price Performance

FITB stock opened at $39.48 on Friday. The company has a market capitalization of $26.38 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week high of $49.07. The business has a 50-day simple moving average of $42.53 and a two-hundred day simple moving average of $43.56.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.75%. Fifth Third Bancorp’s payout ratio is 47.13%.

Fifth Third Bancorp Company 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.