Proquility Private Wealth Partners LLC Grows Position in Fifth Third Bancorp (NASDAQ:FITB)

Proquility Private Wealth Partners LLC increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,544 shares of the financial services provider’s stock after purchasing an additional 864 shares during the period. Fifth Third Bancorp makes up approximately 1.4% of Proquility Private Wealth Partners LLC’s portfolio, making the stock its 27th biggest holding. Proquility Private Wealth Partners LLC’s holdings in Fifth Third Bancorp were worth $4,251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. OneDigital Investment Advisors LLC raised its holdings in shares of Fifth Third Bancorp by 1.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after buying an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. grew its position in Fifth Third Bancorp by 7.5% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 232 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of Fifth Third Bancorp by 9.9% in the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 248 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Fifth Third Bancorp by 9.1% in the 4th quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 257 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Fifth Third Bancorp by 2.6% during the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 259 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FITB has been the subject of several analyst reports. Citigroup upped their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Evercore ISI increased their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Piper Sandler lifted their price target on Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Barclays increased their price objective 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, Wells Fargo & Company lifted their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $45.92.

Insider Buying and Selling at Fifth Third Bancorp

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

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $44.86 on Wednesday. The business has a fifty day simple moving average of $44.96 and a two-hundred day simple moving average of $42.95. The firm has a market capitalization of $30.08 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.93 and a beta of 1.24. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 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.