Ethos Financial Group LLC Acquires Shares of 906 Fifth Third Bancorp (NASDAQ:FITB)

Ethos Financial Group LLC acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 906 shares of the financial services provider’s stock, valued at approximately $39,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth $25,000. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth $28,000. Venturi Wealth Management LLC boosted its position in shares of Fifth Third Bancorp by 89.5% during the third 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 in the last quarter. BankPlus Trust Department bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth $29,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth $33,000. 83.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Stephens restated an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday. Truist Financial raised their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. DA Davidson raised their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.31.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the company’s 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 completion of the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’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 transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $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 currently owned by insiders.

Fifth Third Bancorp Stock Up 0.5 %

Fifth Third Bancorp stock opened at $40.06 on Friday. The company’s 50-day moving average is $43.23 and its 200-day moving average is $43.77. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $26.66 billion, a PE ratio of 12.76, a P/E/G ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

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.