Raleigh Capital Management Inc. Has $406,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)

Raleigh Capital Management Inc. reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,608 shares of the financial services provider’s stock after selling 334 shares during the period. Raleigh Capital Management Inc.’s holdings in Fifth Third Bancorp were worth $406,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $25,000. Venturi Wealth Management LLC increased its stake in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at $36,000. Hexagon Capital Partners LLC raised its stake in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new position in Fifth Third Bancorp during the third quarter worth about $39,000. 83.79% of the stock is owned by institutional investors.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp Trading Down 2.1 %

FITB stock opened at $43.93 on Thursday. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The stock has a market cap of $29.46 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.95 and a beta of 1.24. The company has a fifty day moving average price of $44.85 and a two-hundred day moving average price of $43.02. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Morgan Stanley increased their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Truist Financial boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI upped their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.14.

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.