Sanctuary Advisors LLC Boosts Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Sanctuary Advisors LLC increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 10.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 78,415 shares of the financial services provider’s stock after acquiring an additional 7,315 shares during the period. Sanctuary Advisors LLC’s holdings in Fifth Third Bancorp were worth $3,489,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter valued at about $28,000. Venturi Wealth Management LLC raised its holdings in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the last quarter. Y.D. More Investments Ltd lifted its stake 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 worth $35,000 after purchasing an additional 449 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

FITB stock opened at $42.88 on Friday. The business’s fifty day moving average price is $43.55 and its 200 day moving average price is $43.58. Fifth Third Bancorp has a 12-month low of $33.03 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. The company has a market capitalization of $28.75 billion, a PE ratio of 13.66, a P/E/G ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Insider Activity

In other news, 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 sale, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods boosted their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Barclays raised their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Truist Financial boosted their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $46.75.

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.