151,748 Shares in Fifth Third Bancorp (NASDAQ:FITB) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 151,748 shares of the financial services provider’s stock, valued at approximately $6,416,000.

Several other large investors also recently modified their holdings of the business. Retirement Wealth Solutions LLC bought a new position in Fifth Third Bancorp during the 4th quarter worth about $25,000. Sierra Ocean LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $28,000. Venturi Wealth Management LLC grew its holdings 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 buying an additional 316 shares in the last quarter. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $29,000. Finally, Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $33,000. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FITB shares. Citigroup raised their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Keefe, Bruyette & Woods lifted their price target 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. DA Davidson increased their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley lowered their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $47.36.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $38.55 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a market cap of $25.76 billion, a P/E ratio of 12.28, a PEG ratio of 1.42 and a beta of 1.21. The stock has a 50 day simple moving average of $42.84 and a 200 day simple moving average of $43.69. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07.

Insider Activity

In related news, EVP Kevin P. Lavender sold 21,700 shares of the 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 in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. 0.53% of the stock is currently 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.