Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,011 shares of the financial services provider’s stock after buying an additional 9,195 shares during the quarter. HighTower Advisors LLC’s holdings in Fifth Third Bancorp were worth $6,554,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FITB. OneDigital Investment Advisors LLC raised its position in Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its stake in shares of Fifth Third Bancorp by 7.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 232 shares during the period. Eads & Heald Wealth Management boosted its holdings in Fifth Third Bancorp by 3.0% during the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock worth $347,000 after buying an additional 235 shares in the last quarter. Valley National Advisers Inc. grew its position in Fifth Third Bancorp by 3.6% during the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock worth $285,000 after buying an additional 236 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in Fifth Third Bancorp by 4.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after buying an additional 246 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 130,856 shares of the company’s stock, 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. 0.53% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Trading Down 0.3 %

NASDAQ FITB opened at $38.89 on Wednesday. The firm has a market capitalization of $25.98 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.42 and a beta of 1.21. 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 moving average price is $42.68 and its 200 day moving average price is $43.64.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stephens restated an “equal weight” rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Truist Financial raised their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 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 report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, DA Davidson upped their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.36.

Fifth Third Bancorp Company 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.