Quadrant Capital Group LLC Has $898,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Quadrant Capital Group LLC cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 5.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,240 shares of the financial services provider’s stock after selling 1,126 shares during the quarter. Quadrant Capital Group LLC’s holdings in Fifth Third Bancorp were worth $898,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Eads & Heald Wealth Management lifted its holdings in shares of 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. Valley National Advisers Inc. lifted its stake in Fifth Third Bancorp by 3.6% in the 4th quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 236 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Fifth Third Bancorp by 4.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 246 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Fifth Third Bancorp by 9.1% during the 4th quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 257 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Fifth Third Bancorp by 16.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 261 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FITB has been the subject of a number of analyst reports. Morgan Stanley decreased their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. decreased their price objective on Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday. Truist Financial upped their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Barclays raised their price target 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. Finally, Stephens reiterated an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $48.19.

Insider Transactions at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction on 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 trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Down 4.8 %

Fifth Third Bancorp stock opened at $33.75 on Monday. Fifth Third Bancorp has a twelve month low of $31.10 and a twelve month high of $49.07. The stock has a market cap of $22.55 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.42 and a beta of 0.99. The company’s 50-day moving average price is $41.50 and its two-hundred day moving average price is $43.36. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.39%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp’s payout ratio 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.