Corient Private Wealth LLC Buys 15,204 Shares of Fifth Third Bancorp $FITB

Corient Private Wealth LLC boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 221,238 shares of the financial services provider’s stock after buying an additional 15,204 shares during the quarter. Corient Private Wealth LLC’s holdings in Fifth Third Bancorp were worth $10,358,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of FITB. Harbor Investment Advisory LLC increased its position in Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after buying an additional 517 shares in the last quarter. Monetary Solutions Ltd purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $29,000. Leonteq Securities AG purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $30,000. Reflection Asset Management bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $30,000. Finally, EFG International AG bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $33,000. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the transaction, the executive vice president owned 189,382 shares in the company, valued at $9,556,215.72. This trade represents a 9.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the sale, the executive vice president directly owned 76,299 shares in the company, valued at approximately $3,873,700.23. The trade was a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on FITB. DA Davidson restated a “buy” rating and set a $58.00 target price on shares of Fifth Third Bancorp in a research note on Monday, April 20th. Truist Financial upped their price target on shares of Fifth Third Bancorp from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore increased their price objective on shares of Fifth Third Bancorp from $53.00 to $58.00 in a research note on Wednesday. Morgan Stanley decreased their price objective on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Finally, Wolfe Research lowered their target price on shares of Fifth Third Bancorp from $57.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Sixteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and a consensus target price of $57.74.

Fifth Third Bancorp Stock Performance

FITB opened at $55.10 on Thursday. The stock has a market capitalization of $49.94 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.09 and a beta of 0.92. The company has a fifty day moving average of $50.63 and a 200 day moving average of $49.46. Fifth Third Bancorp has a fifty-two week low of $40.04 and a fifty-two week high of $55.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same period in the previous year, the firm posted $0.71 EPS. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Fifth Third Bancorp’s payout ratio is 53.69%.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.