Sage Mountain Advisors LLC Has $1.30 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Sage Mountain Advisors LLC decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,826 shares of the financial services provider’s stock after selling 1,693 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Fifth Third Bancorp were worth $1,303,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $25,000. Sierra Ocean LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $28,000. Venturi Wealth Management LLC lifted 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 acquiring an additional 316 shares during the last quarter. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $29,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $33,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup increased their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Wells Fargo & Company increased their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial raised their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. One 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.31.

Fifth Third Bancorp Price Performance

FITB stock opened at $39.28 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The firm has a market cap of $26.24 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.42 and a beta of 1.21. The company’s 50-day moving average price is $43.16 and its two-hundred day moving average price is $43.80.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % 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.

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.