Global Retirement Partners LLC Purchases 1,924 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Global Retirement Partners LLC grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,249 shares of the financial services provider’s stock after acquiring an additional 1,924 shares during the period. Global Retirement Partners LLC’s holdings in Fifth Third Bancorp were worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Convergence Investment Partners LLC increased its stake in Fifth Third Bancorp by 18.5% in the 4th quarter. Convergence Investment Partners LLC now owns 79,302 shares of the financial services provider’s stock worth $3,353,000 after buying an additional 12,356 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of Fifth Third Bancorp by 56.0% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 31,264 shares of the financial services provider’s stock worth $1,322,000 after buying an additional 11,226 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in Fifth Third Bancorp by 242.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 19,592 shares of the financial services provider’s stock worth $830,000 after acquiring an additional 13,878 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Fifth Third Bancorp by 54.7% during the 4th quarter. Venturi Wealth Management LLC now owns 1,035 shares of the financial services provider’s stock valued at $44,000 after buying an additional 366 shares during the period. Finally, D.A. Davidson & CO. lifted its holdings in shares of Fifth Third Bancorp by 75.3% in the 4th quarter. D.A. Davidson & CO. now owns 37,559 shares of the financial services provider’s stock worth $1,588,000 after acquiring an additional 16,136 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp 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 completion of the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Down 1.7 %

FITB stock opened at $42.88 on Monday. The firm has a 50-day moving average of $43.50 and a two-hundred day moving average of $43.67. The company has a market cap of $28.75 billion, a price-to-earnings ratio of 13.66, 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 has a 12 month low of $33.03 and a 12 month high of $49.07.

Fifth Third Bancorp Announces Dividend

The company 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 of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Wall Street Analyst Weigh In

Several brokerages have commented on FITB. Truist Financial upped their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler reissued an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.75.

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.