Atria Wealth Solutions Inc. Buys 13,878 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Atria Wealth Solutions Inc. increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 242.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,592 shares of the financial services provider’s stock after purchasing an additional 13,878 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Fifth Third Bancorp were worth $830,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FITB. Assenagon Asset Management S.A. grew its stake in shares of Fifth Third Bancorp by 8.7% during the third quarter. Assenagon Asset Management S.A. now owns 21,705 shares of the financial services provider’s stock valued at $930,000 after purchasing an additional 1,740 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Fifth Third Bancorp by 0.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 144,408 shares of the financial services provider’s stock valued at $6,186,000 after purchasing an additional 993 shares during the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Fifth Third Bancorp by 1,787.3% during the third quarter. Abich Financial Wealth Management LLC now owns 1,340 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,269 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Fifth Third Bancorp by 7.6% during the third quarter. First Trust Direct Indexing L.P. now owns 19,220 shares of the financial services provider’s stock valued at $823,000 after purchasing an additional 1,363 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in Fifth Third Bancorp by 5.4% in the third 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 during the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Trading Up 0.0 %

FITB opened at $43.01 on Wednesday. The stock has a market capitalization of $28.84 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.42 and a beta of 1.23. Fifth Third Bancorp has a 12 month low of $33.03 and a 12 month high of $49.07. The firm’s fifty day simple moving average is $43.40 and its 200 day simple moving average is $43.72. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.44%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 sale, the chief operating officer now directly owns 244,487 shares in the company, 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 currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on FITB shares. Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial raised their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Citigroup raised their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus price target of $46.75.

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.