Venturi Wealth Management LLC Has $44,000 Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Venturi Wealth Management LLC increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 54.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,035 shares of the financial services provider’s stock after purchasing an additional 366 shares during the quarter. Venturi Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $44,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $28,000. Y.D. More Investments Ltd boosted its holdings in shares of Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after buying an additional 449 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at approximately $36,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at approximately $39,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $43.01 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a one year low of $33.03 and a one year high of $49.07. The firm has a market capitalization of $28.84 billion, a P/E ratio of 13.70, a PEG ratio of 1.42 and a beta of 1.23. The business has a fifty day moving average of $43.40 and a 200 day moving average of $43.72.

Fifth Third Bancorp Announces Dividend

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

Insider Activity at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value 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 trade 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 owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on FITB. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods raised their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Barclays raised their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Citigroup raised their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.