Fifth Third Bancorp (NASDAQ:FITB) Stock Position Reduced by 180 Wealth Advisors LLC

180 Wealth Advisors LLC cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITBGet Rating) by 30.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,526 shares of the financial services provider’s stock after selling 3,674 shares during the period. 180 Wealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in Fifth Third Bancorp during the first quarter valued at approximately $28,000. Johnson Financial Group Inc. purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $31,000. Wagner Wealth Management LLC grew its position in Fifth Third Bancorp by 82.5% during the fourth quarter. Wagner Wealth Management LLC now owns 794 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 359 shares in the last quarter. Covestor Ltd acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $37,000. Finally, James Reed Financial Services Inc. bought a new stake in Fifth Third Bancorp in the fourth quarter worth approximately $42,000. 81.33% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Down 2.1 %

Shares of Fifth Third Bancorp stock opened at $35.03 on Monday. The firm has a market capitalization of $24.04 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 1.20 and a beta of 1.25. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.76 and a quick ratio of 0.75. The company’s fifty day moving average price is $34.80 and its two-hundred day moving average price is $37.64. Fifth Third Bancorp has a 52-week low of $31.80 and a 52-week high of $50.64.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last announced its quarterly earnings results on Thursday, July 21st. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.11). Fifth Third Bancorp had a net margin of 29.09% and a return on equity of 12.99%. During the same quarter in the prior year, the business posted $0.94 earnings per share. On average, analysts expect that Fifth Third Bancorp will post 3.54 EPS for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.30. Fifth Third Bancorp’s payout ratio is 36.25%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Mitchell Feiger sold 8,734 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $35.20, for a total value of $307,436.80. Following the sale, the director now owns 11,030 shares of the company’s stock, valued at approximately $388,256. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup dropped their price target on shares of Fifth Third Bancorp from $44.00 to $37.00 in a research note on Tuesday, July 12th. Morgan Stanley dropped their price target on shares of Fifth Third Bancorp from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 12th. Jefferies Financial Group dropped their price target on shares of Fifth Third Bancorp from $47.00 to $39.00 in a research note on Monday, July 11th. Wolfe Research dropped their price target on shares of Fifth Third Bancorp from $47.00 to $37.00 and set a “peer perform” rating on the stock in a research note on Thursday, May 26th. Finally, Piper Sandler dropped their price target on shares of Fifth Third Bancorp to $40.00 in a research note on Friday, July 22nd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.47.

Fifth Third Bancorp Profile

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Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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