Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by MCF Advisors LLC

MCF Advisors LLC increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 42,801 shares of the financial services provider’s stock after purchasing an additional 794 shares during the period. MCF Advisors LLC’s holdings in Fifth Third Bancorp were worth $1,821,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in shares of Fifth Third Bancorp by 4.6% in the second quarter. Pacer Advisors Inc. now owns 48,878 shares of the financial services provider’s stock valued at $1,784,000 after purchasing an additional 2,157 shares during the period. Sei Investments Co. boosted its position in Fifth Third Bancorp by 1.2% in the 2nd quarter. Sei Investments Co. now owns 693,800 shares of the financial services provider’s stock valued at $25,317,000 after buying an additional 8,410 shares during the period. Ensign Peak Advisors Inc grew its stake in shares of Fifth Third Bancorp by 1.2% in the second quarter. Ensign Peak Advisors Inc now owns 227,748 shares of the financial services provider’s stock worth $8,311,000 after acquiring an additional 2,775 shares in the last quarter. Frank Rimerman Advisors LLC increased its position in shares of Fifth Third Bancorp by 7,299.2% during the second quarter. Frank Rimerman Advisors LLC now owns 8,879 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 8,759 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in shares of Fifth Third Bancorp by 8.3% in the second quarter. Public Sector Pension Investment Board now owns 115,997 shares of the financial services provider’s stock valued at $4,233,000 after acquiring an additional 8,870 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 1.2 %

NASDAQ FITB opened at $44.86 on Wednesday. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The firm has a market cap of $30.08 billion, a PE ratio of 14.90, a P/E/G ratio of 1.93 and a beta of 1.24. The firm’s fifty day moving average is $44.96 and its two-hundred day moving average is $42.95. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.30%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is presently 49.17%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FITB. Truist Financial began coverage on Fifth Third Bancorp in a report on Tuesday, January 7th. They set a “buy” rating and a $51.00 price target on the stock. Wells Fargo & Company raised their target price 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. Morgan Stanley boosted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.92.

Insiders Place Their Bets

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated 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 of the company’s stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is owned by insiders.

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.