Atria Wealth Solutions Inc. Has $207,000 Stock Position in Fifth Third Bancorp $FITB

Atria Wealth Solutions Inc. cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 73.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,242 shares of the financial services provider’s stock after selling 14,350 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Fifth Third Bancorp were worth $207,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Quarry LP acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. HWG Holdings LP acquired a new stake in Fifth Third Bancorp in the first quarter valued at approximately $27,000. Larson Financial Group LLC boosted its position in Fifth Third Bancorp by 91.3% in the first quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider’s stock valued at $29,000 after buying an additional 357 shares in the last quarter. REAP Financial Group LLC boosted its position in Fifth Third Bancorp by 161.8% in the fourth quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider’s stock valued at $33,000 after buying an additional 487 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in Fifth Third Bancorp by 60.7% in the first quarter. Grove Bank & Trust now owns 887 shares of the financial services provider’s stock valued at $35,000 after buying an additional 335 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

FITB stock opened at $42.48 on Monday. The firm has a market cap of $28.12 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.38 and a beta of 0.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.76. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The company’s fifty day simple moving average is $41.65 and its 200 day simple moving average is $39.88.

Fifth Third Bancorp announced that its board has authorized a stock repurchase plan on Monday, June 16th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, June 30th. Fifth Third Bancorp’s payout ratio is 45.96%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. DA Davidson upgraded shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and raised their target price for the company from $42.00 to $47.00 in a research report on Monday, June 9th. Cowen assumed coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 14th. They issued a “buy” rating on the stock. Barclays cut their target price on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods cut their price target on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Finally, TD Cowen began coverage on shares of Fifth Third Bancorp in a report on Thursday, May 15th. They set a “buy” rating and a $52.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.80.

About Fifth Third Bancorp

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.