Corient Private Wealth LLC Raises Position in Fifth Third Bancorp (NASDAQ:FITB)

Corient Private Wealth LLC grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 219,200 shares of the financial services provider’s stock after purchasing an additional 958 shares during the quarter. Corient Private Wealth LLC’s holdings in Fifth Third Bancorp were worth $9,266,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FITB. Boston Common Asset Management LLC increased its holdings in shares of Fifth Third Bancorp by 12.4% during the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after buying an additional 34,203 shares during the last quarter. AMJ Financial Wealth Management increased its holdings in shares of Fifth Third Bancorp by 4.2% during the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock worth $9,843,000 after buying an additional 9,401 shares during the last quarter. Banco Santander S.A. acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $357,000. Lockheed Martin Investment Management Co. acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $9,878,000. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $423,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $39.46 on Thursday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07. The company’s 50-day simple moving average is $42.62 and its 200-day simple moving average is $43.61. The stock has a market capitalization of $26.36 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.42 and a beta of 1.21.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped 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. Piper Sandler restated an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Stephens reiterated an “equal weight” rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Finally, Citigroup increased their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $47.36.

Fifth Third Bancorp Profile

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.