D.A. Davidson & CO. Purchases 16,136 Shares of Fifth Third Bancorp (NASDAQ:FITB)

D.A. Davidson & CO. grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 75.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 37,559 shares of the financial services provider’s stock after buying an additional 16,136 shares during the quarter. D.A. Davidson & CO.’s holdings in Fifth Third Bancorp were worth $1,588,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $28,000. Venturi Wealth Management LLC raised its holdings in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 449 shares during the period. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $36,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 1.7 %

FITB opened at $42.88 on Friday. The company has a fifty day moving average price of $43.50 and a 200-day moving average price of $43.61. The firm has a market capitalization of $28.75 billion, a P/E ratio of 13.66, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a one year low of $33.03 and a one year high of $49.07.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.45%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.13%.

Analyst Ratings Changes

FITB has been the topic of a number of research reports. Barclays lifted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Citigroup lifted their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $46.75.

Insider Buying and Selling

In related news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is 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.