First National Trust Co Increases Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

First National Trust Co grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 82,257 shares of the financial services provider’s stock after buying an additional 5,158 shares during the quarter. First National Trust Co’s holdings in Fifth Third Bancorp were worth $3,478,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $25,000. Venturi Wealth Management LLC boosted its holdings in shares of Fifth Third Bancorp by 89.5% during 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. Sierra Ocean LLC purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $28,000. BankPlus Trust Department purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $29,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity

In related news, COO James C. Leonard sold 17,200 shares of the firm’s 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 directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $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. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 2.9 %

Fifth Third Bancorp stock opened at $38.55 on Friday. The stock has a market cap of $25.76 billion, a P/E ratio of 12.28, a PEG ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07. The firm’s 50 day moving average price is $42.84 and its 200-day moving average price is $43.67.

Analyst Ratings Changes

FITB has been the topic of several recent research reports. Wells Fargo & Company increased 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Citigroup increased their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Barclays increased 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and an average price target of $47.36.

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.