Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by ORG Wealth Partners LLC

ORG Wealth Partners LLC trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 17.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,740 shares of the financial services provider’s stock after selling 370 shares during the period. ORG Wealth Partners LLC’s holdings in Fifth Third Bancorp were worth $74,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Fifth Third Bancorp by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after acquiring an additional 732,651 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $28,490,000. Millennium Management LLC lifted its holdings in shares of Fifth Third Bancorp by 896.7% in the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock worth $23,678,000 after purchasing an additional 583,781 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Fifth Third Bancorp by 76.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock valued at $57,005,000 after purchasing an additional 575,449 shares during the period. Finally, Franklin Resources Inc. grew its stake in Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after buying an additional 409,292 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Trading Down 3.1 %

Fifth Third Bancorp stock opened at $41.12 on Friday. The firm has a market cap of $27.57 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 2.18 and a beta of 1.24. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The firm’s 50 day moving average price is $45.19 and its two-hundred day moving average price is $42.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts predict that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 49.17%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FITB has been the subject of several analyst reports. Truist Financial assumed coverage on shares of Fifth Third Bancorp in a report on Tuesday. They set a “buy” rating and a $51.00 price target for the company. Barclays upped their target price 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. Piper Sandler lifted their price target on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods increased their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Citigroup lifted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.92.

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.