Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 269,453 shares of the financial services provider’s stock after selling 689 shares during the period. Daymark Wealth Partners LLC’s holdings in Fifth Third Bancorp were worth $11,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC increased its position in Fifth Third Bancorp by 89.5% in 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 Fifth Third Bancorp during the 3rd quarter valued at approximately $36,000. Hexagon Capital Partners LLC lifted its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp in the 3rd quarter valued at $39,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FITB has been the topic of several analyst reports. 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. Citigroup increased their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler upped their price target on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods raised their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $45.92.

Fifth Third Bancorp Stock Up 1.2 %

Shares of NASDAQ FITB opened at $44.86 on Wednesday. The firm has a market cap of $30.08 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The firm’s 50 day moving average price is $44.91 and its 200 day moving average price is $43.02.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Insider Activity at Fifth Third Bancorp

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

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.