Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 25.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,383 shares of the financial services provider’s stock after selling 4,153 shares during the period. Octavia Wealth Advisors LLC’s holdings in Fifth Third Bancorp were worth $528,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $25,000. Venturi Wealth Management LLC lifted its stake in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the third quarter worth approximately $36,000. Hexagon Capital Partners LLC raised its stake in shares of Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Fifth Third Bancorp during the third quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 1.2 %

Shares of FITB opened at $44.86 on Wednesday. The firm has a market capitalization of $30.08 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The business’s fifty day moving average price is $44.96 and its two-hundred day moving average price is $42.95. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 49.17%.

Wall Street Analysts Forecast Growth

FITB has been the topic of several research reports. Evercore ISI upped their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Piper Sandler raised their target price 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 lifted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.92.

Insider Activity

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

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.