United Capital Financial Advisors LLC Reduces Position in Fifth Third Bancorp (NASDAQ:FITB)

United Capital Financial Advisors LLC decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 46,126 shares of the financial services provider’s stock after selling 602 shares during the period. United Capital Financial Advisors LLC’s holdings in Fifth Third Bancorp were worth $1,950,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of FITB. Norges Bank purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $371,836,000. PL Capital Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 4,128.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock valued at $78,654,000 after buying an additional 1,816,320 shares during the period. Jupiter Asset Management Ltd. purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth $53,508,000. Raymond James Financial Inc. bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $38,971,000. Finally, Boston Partners increased its position in Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock valued at $597,692,000 after acquiring an additional 823,803 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 0.7 %

NASDAQ:FITB opened at $34.15 on Friday. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The company has a 50-day moving average of $39.35 and a 200 day moving average of $42.71. The firm has a market cap of $22.82 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.01. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter last year, the firm earned $0.70 EPS. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.37 per share. The ex-dividend date was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 4.33%. Fifth Third Bancorp’s payout ratio is 47.13%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the 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 completion of the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $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. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FITB. Barclays increased their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Truist Financial upped their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Baird R W raised Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. DA Davidson increased their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.12.

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.