Southland Equity Partners LLC Makes New $205,000 Investment in Fifth Third Bancorp (NASDAQ:FITB)

Southland Equity Partners LLC acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,856 shares of the financial services provider’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. OneDigital Investment Advisors LLC grew its position in Fifth Third Bancorp by 1.1% during the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after buying an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. increased its position in shares of Fifth Third Bancorp by 7.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 232 shares during the period. Eads & Heald Wealth Management raised its stake in Fifth Third Bancorp by 3.0% in the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 235 shares in the last quarter. Quent Capital LLC lifted its position in Fifth Third Bancorp by 9.9% during the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 248 shares during the period. Finally, Brooklyn Investment Group grew its stake in Fifth Third Bancorp by 9.1% during the fourth quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock worth $131,000 after buying an additional 257 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FITB shares. Truist Financial upped their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley upped their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $44.18 on Friday. The stock has a market cap of $29.62 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.91 and a beta of 1.24. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The company’s fifty day moving average is $44.78 and its 200 day moving average is $43.03. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.35%. Fifth Third Bancorp’s payout ratio is 47.13%.

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 on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by corporate insiders.

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.