Corient Private Wealth LLC Boosts Stake in Fifth Third Bancorp (NASDAQ:FITB)

Corient Private Wealth LLC increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 0.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 219,200 shares of the financial services provider’s stock after purchasing an additional 958 shares during the period. Corient Private Wealth LLC’s holdings in Fifth Third Bancorp were worth $9,266,000 at the end of the most recent quarter.

Other institutional investors have also recently 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 valued at about $25,000. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp in the 4th quarter valued at about $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp in the 4th quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in Fifth Third Bancorp in the 3rd quarter valued at about $36,000. Finally, Midwest Capital Advisors LLC acquired a new position in Fifth Third Bancorp in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the 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 owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the 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 transaction, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FITB. Stephens restated an “equal weight” rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. DA Davidson boosted their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Morgan Stanley dropped their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Truist Financial boosted their target price on 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, Citigroup boosted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $47.36.

Fifth Third Bancorp Price Performance

FITB stock opened at $39.46 on Thursday. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s 50 day moving average price is $42.62 and its 200 day moving average price is $43.61. The firm has a market cap of $26.36 billion, a P/E ratio of 12.57, a PEG ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp 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.