UMB Bank n.a. Boosts Position in Fifth Third Bancorp (NASDAQ:FITB)

UMB Bank n.a. lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,442 shares of the financial services provider’s stock after buying an additional 570 shares during the quarter. UMB Bank n.a.’s holdings in Fifth Third Bancorp were worth $780,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC raised its position in shares of Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after buying an additional 316 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Fifth Third Bancorp during the third quarter valued at $36,000. Hexagon Capital Partners LLC grew its position in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in Fifth Third Bancorp in the 3rd quarter worth about $39,000. 83.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on FITB shares. Truist Financial assumed coverage on Fifth Third Bancorp in a research report on Tuesday, January 7th. They set a “buy” rating and a $51.00 price target for the company. Barclays boosted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Piper Sandler raised their price objective on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their target price on shares of 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. Finally, Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, nine 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 “Hold” and an average target price of $45.92.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 1.2 %

FITB opened at $44.86 on Wednesday. The firm has a market capitalization of $30.08 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.93 and a beta of 1.24. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The business has a 50 day simple moving average of $44.96 and a two-hundred day simple moving average of $42.95. 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 declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.30%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 49.17%.

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.