Family Legacy Inc. Raises Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Family Legacy Inc. boosted its position in Fifth Third Bancorp (NASDAQ:FITB) by 10.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,844 shares of the financial services provider’s stock after acquiring an additional 1,396 shares during the period. Family Legacy Inc.’s holdings in Fifth Third Bancorp were worth $630,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $25,000. Sierra Ocean LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter worth about $28,000. BankPlus Trust Department bought a new position in Fifth Third Bancorp in the 4th quarter worth about $29,000. Midwest Capital Advisors LLC purchased a new position in Fifth Third Bancorp during the 4th quarter valued at about $33,000. Finally, Y.D. More Investments Ltd increased its position in shares of Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after buying an additional 449 shares during the period. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FITB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. DA Davidson lifted their price objective 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. Wells Fargo & Company dropped their price target on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday. Keefe, Bruyette & Woods raised their target price on shares of 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. Finally, Stephens restated an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $46.64.

Insider Activity

In other news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were 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 of the company’s stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Down 2.4 %

Shares of Fifth Third Bancorp stock opened at $38.81 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07. The company has a market cap of $25.93 billion, a P/E ratio of 12.36, a PEG ratio of 1.42 and a beta of 1.21. The company’s fifty day simple moving average is $42.18 and its two-hundred day simple moving average is $43.53.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

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.