Fifth Third Bancorp (NASDAQ:FITB) Position Increased by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,884 shares of the financial services provider’s stock after acquiring an additional 1,137 shares during the period. HBK Sorce Advisory LLC’s holdings in Fifth Third Bancorp were worth $1,306,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC lifted its stake in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth about $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in Fifth Third Bancorp in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Stephens reissued an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Truist Financial boosted their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.36.

Insiders Place Their Bets

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the business’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 sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction 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 $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 0.50% of the company’s stock.

Fifth Third Bancorp Trading Down 2.7 %

Shares of NASDAQ FITB opened at $37.48 on Friday. 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 company’s fifty day moving average is $42.91 and its 200-day moving average is $43.69. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. The stock has a market cap of $25.04 billion, a price-to-earnings ratio of 11.94, a P/E/G ratio of 1.42 and a beta of 1.21.

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.