Sanibel Captiva Trust Company Inc. Acquires New Stake in Fifth Third Bancorp (NASDAQ:FITB)

Sanibel Captiva Trust Company Inc. bought a new position in Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, Holdings Channel.com reports. The fund bought 9,452 shares of the financial services provider’s stock, valued at approximately $400,000.

A number of other large investors have also made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its position in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $36,000. Hexagon Capital Partners LLC raised its holdings in Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp during the third quarter valued at $39,000. 83.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FITB shares. Barclays raised their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Truist Financial assumed coverage on shares of Fifth Third Bancorp in a research note on Tuesday, January 7th. They issued a “buy” rating and a $51.00 price objective for the company. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Finally, Evercore ISI increased their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.92.

Fifth Third Bancorp Trading Up 2.5 %

Shares of NASDAQ FITB opened at $44.34 on Monday. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The business’s 50 day moving average is $45.02 and its two-hundred day moving average is $42.86. The stock has a market capitalization of $29.73 billion, a P/E ratio of 14.73, a PEG ratio of 1.79 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 EPS. As a group, research analysts expect that Fifth Third Bancorp will post 3.31 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued 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 3.34%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Fifth Third Bancorp 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.