Bartlett & CO. Wealth Management LLC Sells 6,650 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Bartlett & CO. Wealth Management LLC lessened its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 14.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,695 shares of the financial services provider’s stock after selling 6,650 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $1,693,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $25,000. Venturi Wealth Management LLC boosted its stake in Fifth Third Bancorp by 89.5% in the 3rd 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. Legacy Investment Solutions LLC purchased a new stake in Fifth Third Bancorp during the 3rd quarter worth approximately $36,000. Hexagon Capital Partners LLC grew its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Fifth Third Bancorp during the 3rd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley increased their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Evercore ISI lifted their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday. Finally, StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $46.75.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Down 0.2 %

Shares of FITB stock opened at $43.85 on Friday. The stock has a 50 day simple moving average of $44.85 and a 200-day simple moving average of $43.02. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The company has a market cap of $29.40 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.95 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.38%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

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.