Global Retirement Partners LLC Grows Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Global Retirement Partners LLC raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 20.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,249 shares of the financial services provider’s stock after buying an additional 1,924 shares during the quarter. Global Retirement Partners LLC’s holdings in Fifth Third Bancorp were worth $476,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Convergence Investment Partners LLC boosted its holdings in shares of Fifth Third Bancorp by 18.5% in the fourth quarter. Convergence Investment Partners LLC now owns 79,302 shares of the financial services provider’s stock valued at $3,353,000 after acquiring an additional 12,356 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Fifth Third Bancorp by 56.0% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 31,264 shares of the financial services provider’s stock valued at $1,322,000 after purchasing an additional 11,226 shares in the last quarter. Atria Wealth Solutions Inc. increased its position in Fifth Third Bancorp by 242.9% during the 4th quarter. Atria Wealth Solutions Inc. now owns 19,592 shares of the financial services provider’s stock worth $830,000 after purchasing an additional 13,878 shares during the period. Venturi Wealth Management LLC increased its position in Fifth Third Bancorp by 54.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,035 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 366 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of Fifth Third Bancorp by 75.3% during the 4th quarter. D.A. Davidson & CO. now owns 37,559 shares of the financial services provider’s stock worth $1,588,000 after buying an additional 16,136 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity

In other news, 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 value of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Down 1.7 %

FITB opened at $42.88 on Monday. The firm has a market cap of $28.75 billion, a P/E ratio of 13.66, a PEG ratio of 1.42 and a beta of 1.23. The business’s fifty day simple moving average is $43.50 and its 200 day simple moving average is $43.67. Fifth Third Bancorp has a 52 week low of $33.03 and a 52 week high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

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. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FITB. Citigroup upped their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. 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. Wells Fargo & Company increased their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, DA Davidson increased their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus price target of $46.75.

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.