4WEALTH Advisors Inc. Buys Shares of 19,818 Fifth Third Bancorp (NASDAQ:FITB)

4WEALTH Advisors Inc. bought a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,818 shares of the financial services provider's stock, valued at approximately $838,000. Fifth Third Bancorp comprises about 0.8% of 4WEALTH Advisors Inc.'s investment portfolio, making the stock its 28th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of FITB. Charles Schwab Investment Management Inc. grew its position in Fifth Third Bancorp by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock valued at $912,692,000 after buying an additional 812,385 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Fifth Third Bancorp by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider's stock worth $715,219,000 after acquiring an additional 285,910 shares during the period. Boston Partners boosted its holdings in shares of Fifth Third Bancorp by 6.2% in the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock valued at $597,692,000 after acquiring an additional 823,803 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Fifth Third Bancorp by 12.1% during the fourth quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock valued at $402,991,000 after acquiring an additional 1,027,044 shares during the period. Finally, Norges Bank bought a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $371,836,000. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Up 2.8 %

Shares of NASDAQ:FITB traded up $1.01 during trading on Friday, reaching $37.10. 2,677,135 shares of the company traded hands, compared to its average volume of 4,471,648. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market cap of $24.79 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. The firm has a fifty day simple moving average of $37.53 and a 200 day simple moving average of $42.11.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.99%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is 46.98%.

Analyst Ratings Changes

Several brokerages have recently issued reports on FITB. Baird R W upgraded Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Barclays cut their price target on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Citigroup dropped their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Piper Sandler restated an "overweight" rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.24.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the stock in a transaction on 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 directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value 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 position. The disclosure for this sale can be found here. 0.53% 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.