RFG Bristol Wealth Advisors LLC Purchases New Position in Fifth Third Bancorp (NASDAQ:FITB)

RFG Bristol Wealth Advisors LLC acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 14,444 shares of the financial services provider’s stock, valued at approximately $611,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $25,000. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp during the 4th quarter valued at about $28,000. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Midwest Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $33,000. Finally, Y.D. More Investments Ltd boosted its stake in shares of Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 449 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO James C. Leonard sold 17,200 shares of the business’s 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $38.93 on Wednesday. The company has a 50 day simple moving average of $41.96 and a two-hundred day simple moving average of $43.49. The stock has a market cap of $26.01 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.42 and a beta of 1.21. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Piper Sandler restated an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Citigroup decreased their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. DA Davidson lifted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Truist Financial boosted their target price 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. Finally, Barclays raised their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.50.

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.