New England Capital Financial Advisors LLC Sells 365 Shares of Fifth Third Bancorp (NASDAQ:FITB)

New England Capital Financial Advisors LLC decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,721 shares of the financial services provider’s stock after selling 365 shares during the quarter. Fifth Third Bancorp accounts for approximately 0.3% of New England Capital Financial Advisors LLC’s holdings, making the stock its 27th biggest holding. New England Capital Financial Advisors LLC’s holdings in Fifth Third Bancorp were worth $665,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FITB. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp in the fourth quarter worth $25,000. Venturi Wealth Management LLC raised its holdings 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 valued at $29,000 after buying an additional 316 shares during the last quarter. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth about $28,000. Legacy Investment Solutions LLC bought a new stake in Fifth Third Bancorp during the 3rd quarter worth about $36,000. Finally, Y.D. More Investments Ltd increased its position in Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 449 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

FITB stock opened at $42.88 on Friday. Fifth Third Bancorp has a 1-year low of $33.03 and a 1-year high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market cap of $28.75 billion, a PE ratio of 13.66, a P/E/G ratio of 1.42 and a beta of 1.23. The business’s 50-day moving average price is $43.50 and its two-hundred day moving average price is $43.64.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FITB. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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 research report on Wednesday, January 22nd. DA Davidson upped their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.75.

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.