Dynasty Wealth Management LLC Sells 368 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Dynasty Wealth Management LLC reduced its position in Fifth Third Bancorp (NASDAQ:FITB) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,706 shares of the financial services provider’s stock after selling 368 shares during the quarter. Dynasty Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $284,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in Fifth Third Bancorp by 8.7% in the third quarter. Assenagon Asset Management S.A. now owns 21,705 shares of the financial services provider’s stock worth $930,000 after purchasing an additional 1,740 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Fifth Third Bancorp by 7.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 19,220 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 1,363 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Fifth Third Bancorp by 5.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 6,016 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 306 shares in the last quarter. Nadler Financial Group Inc. bought a new stake in Fifth Third Bancorp in the third quarter valued at $230,000. Finally, W Advisors LLC bought a new stake in Fifth Third Bancorp in the third quarter valued at $201,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

FITB stock opened at $43.47 on Friday. The firm has a market cap of $29.15 billion, a PE ratio of 13.84, a P/E/G ratio of 1.42 and a beta of 1.23. 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 business has a 50 day moving average of $43.43 and a 200-day moving average of $43.74. Fifth Third Bancorp has a 12-month low of $33.48 and a 12-month high of $49.07.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.40%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods boosted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. 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 currently has a consensus rating of “Hold” and an average price target of $46.75.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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.