SRS Capital Advisors Inc. Boosts Position in Fifth Third Bancorp (NASDAQ:FITB)

SRS Capital Advisors Inc. boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 855.7% in the fourth quarter, Holdings Channel reports. The fund owned 12,434 shares of the financial services provider’s stock after purchasing an additional 11,133 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Fifth Third Bancorp were worth $526,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Bailard Inc. increased its position in Fifth Third Bancorp by 12.2% during the fourth quarter. Bailard Inc. now owns 57,178 shares of the financial services provider’s stock valued at $2,417,000 after acquiring an additional 6,214 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Fifth Third Bancorp during the fourth quarter valued at about $85,000. Smartleaf Asset Management LLC grew its holdings in Fifth Third Bancorp by 34.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,930 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 1,260 shares during the period. Metis Global Partners LLC grew its holdings in Fifth Third Bancorp by 4.7% during the fourth quarter. Metis Global Partners LLC now owns 22,776 shares of the financial services provider’s stock valued at $963,000 after purchasing an additional 1,027 shares during the period. Finally, Fisher Asset Management LLC bought a new stake in Fifth Third Bancorp during the fourth quarter valued at about $205,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $43.05 on Tuesday. The stock has a 50 day moving average of $43.44 and a 200 day moving average of $43.82. 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 $28.65 billion, a PE ratio of 13.71, a PEG ratio of 1.42 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity 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 given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.44%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analyst Upgrades and Downgrades

FITB has been the subject of several recent research reports. Truist Financial boosted their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Citigroup boosted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. DA Davidson boosted 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 lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company upped their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. 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 company. According to data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp 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.