Accurate Wealth Management LLC Has $446,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Accurate Wealth Management LLC increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,847 shares of the financial services provider’s stock after purchasing an additional 798 shares during the quarter. Accurate Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $446,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in FITB. FNY Investment Advisers LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $177,000. Wedmont Private Capital lifted its stake in Fifth Third Bancorp by 5.8% in the fourth quarter. Wedmont Private Capital now owns 10,077 shares of the financial services provider’s stock valued at $414,000 after acquiring an additional 550 shares during the last quarter. Czech National Bank lifted its stake in Fifth Third Bancorp by 5.4% in the fourth quarter. Czech National Bank now owns 145,387 shares of the financial services provider’s stock valued at $6,147,000 after acquiring an additional 7,501 shares during the last quarter. Graypoint LLC lifted its stake in Fifth Third Bancorp by 2.4% in the fourth quarter. Graypoint LLC now owns 11,534 shares of the financial services provider’s stock valued at $488,000 after acquiring an additional 275 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $509,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Fifth Third Bancorp Trading Up 2.6 %

Shares of Fifth Third Bancorp stock opened at $44.00 on Thursday. The firm has a market capitalization of $29.50 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The company’s fifty day moving average price is $45.17 and its two-hundred day moving average price is $42.75. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-week high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. On average, analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.36%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Truist Financial assumed coverage on shares of Fifth Third Bancorp in a research note on Tuesday, January 7th. They issued a “buy” rating and a $51.00 target price for the company. Wells Fargo & Company boosted their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note 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 research note on Monday, January 6th. Morgan Stanley boosted 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 note on Monday, September 30th. Finally, Keefe, Bruyette & Woods boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $45.92.

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.