Mission Wealth Management LP Sells 1,770 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Mission Wealth Management LP reduced its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,795 shares of the financial services provider’s stock after selling 1,770 shares during the period. Mission Wealth Management LP’s holdings in Fifth Third Bancorp were worth $4,642,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new position in Fifth Third Bancorp in the 4th quarter worth about $25,000. Venturi Wealth Management LLC grew its holdings in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $28,000. BankPlus Trust Department bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Fifth Third Bancorp in the third quarter valued at approximately $36,000. Institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FITB. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. Barclays increased their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Piper Sandler restated an “overweight” rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Truist Financial raised their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.75.

Fifth Third Bancorp Stock Up 1.1 %

NASDAQ FITB opened at $43.47 on Monday. Fifth Third Bancorp has a 1 year low of $33.48 and a 1 year high of $49.07. The stock has a market capitalization of $28.93 billion, a PE ratio of 13.84, a PEG ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The business’s 50-day moving average is $43.43 and its 200 day moving average is $43.80.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.40%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares of the company’s stock, 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. 0.50% of the stock is owned by corporate 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.