Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Cassady Schiller Wealth Management LLC

Cassady Schiller Wealth Management LLC reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,501 shares of the financial services provider’s stock after selling 1,630 shares during the quarter. Cassady Schiller Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $867,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $25,000. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $28,000. Venturi Wealth Management LLC increased 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 valued at $29,000 after purchasing an additional 316 shares in the last quarter. BankPlus Trust Department purchased a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $29,000. Finally, Midwest Capital Advisors LLC purchased a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $33,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. 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 research note on Wednesday, January 22nd. Stephens reissued an “equal weight” rating and set a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Piper Sandler reissued 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. Finally, Keefe, Bruyette & Woods raised their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One investment 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. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $47.36.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was 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 document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $38.55 on Monday. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. The stock has a market capitalization of $25.76 billion, a P/E ratio of 12.28, a PEG ratio of 1.42 and a beta of 1.21. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The business’s fifty day moving average price is $42.84 and its 200 day moving average price is $43.69.

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.