MCF Advisors LLC Purchases 794 Shares of Fifth Third Bancorp (NASDAQ:FITB)

MCF Advisors LLC lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,801 shares of the financial services provider’s stock after buying an additional 794 shares during the period. MCF Advisors LLC’s holdings in Fifth Third Bancorp were worth $1,821,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. OneDigital Investment Advisors LLC boosted its holdings in Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its stake in Fifth Third Bancorp by 7.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 232 shares in the last quarter. Quent Capital LLC grew its position in Fifth Third Bancorp by 9.9% during the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 248 shares during the last quarter. Brooklyn Investment Group increased its stake in Fifth Third Bancorp by 9.1% during the 4th quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 257 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in shares of Fifth Third Bancorp by 2.6% in the third quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock worth $433,000 after buying an additional 259 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial began coverage on shares of Fifth Third Bancorp in a research report on Tuesday, January 7th. They set a “buy” rating and a $51.00 target price for the company. Evercore ISI upped their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler raised their target price on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $45.92.

Fifth Third Bancorp Trading Up 1.2 %

Shares of Fifth Third Bancorp stock opened at $44.86 on Wednesday. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market cap of $30.08 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.93 and a beta of 1.24. The stock’s 50 day simple moving average is $44.96 and its 200-day simple moving average is $42.95.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.17%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

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.