Fifth Third Bancorp (NASDAQ:FITB) Holdings Raised by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 10.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,492 shares of the financial services provider’s stock after acquiring an additional 8,963 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Fifth Third Bancorp were worth $4,122,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FITB. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $25,000. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp in the fourth quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp in the third quarter valued at approximately $36,000. Finally, Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the fourth quarter worth approximately $33,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 0.3 %

Shares of FITB opened at $38.89 on Wednesday. The stock’s 50-day moving average price is $42.68 and its 200 day moving average price is $43.64. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $25.98 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07.

Insider Activity

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The shares were 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 in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction on Wednesday, February 19th. The shares were 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 approximately $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FITB shares. Morgan Stanley cut their price target on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Citigroup increased their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Truist Financial boosted 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. Finally, DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. One research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.36.

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.