Brooklyn Investment Group Has $131,000 Stake in Fifth Third Bancorp (NASDAQ:FITB)

Brooklyn Investment Group boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,093 shares of the financial services provider’s stock after purchasing an additional 257 shares during the quarter. Brooklyn Investment Group’s holdings in Fifth Third Bancorp were worth $131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Venturi Wealth Management LLC increased its position in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 316 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Fifth Third Bancorp during the third quarter valued at about $36,000. Hexagon Capital Partners LLC increased its stake in Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after buying an additional 312 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $39,000. Finally, Versant Capital Management Inc grew its holdings in shares of Fifth Third Bancorp by 232.0% in the fourth quarter. Versant Capital Management Inc now owns 1,006 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 703 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Activity

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Up 2.5 %

Shares of FITB opened at $44.34 on Friday. The firm has a market cap of $29.73 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.79 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 stock has a 50 day simple moving average of $45.02 and a two-hundred day simple moving average of $42.82. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the prior year, the business posted $0.92 EPS. Fifth Third Bancorp’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts forecast that Fifth Third Bancorp will post 3.31 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.34%. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Analysts Set New Price Targets

FITB has been the topic of several research reports. Citigroup lifted their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Truist Financial assumed coverage on shares of Fifth Third Bancorp in a research note on Tuesday, January 7th. They issued a “buy” rating and a $51.00 target price for the company. Morgan Stanley lifted their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Piper Sandler boosted their price objective on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Finally, Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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.