HighTower Advisors LLC Has $8.21 Million Holdings in Fifth Third Bancorp $FITB

HighTower Advisors LLC lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,372 shares of the financial services provider’s stock after purchasing an additional 10,878 shares during the quarter. HighTower Advisors LLC’s holdings in Fifth Third Bancorp were worth $8,209,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after buying an additional 292 shares during the period. Harbor Investment Advisory LLC lifted its position in shares of Fifth Third Bancorp by 501.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after buying an additional 517 shares during the period. United Community Bank lifted its position in shares of Fifth Third Bancorp by 581.0% during the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after buying an additional 581 shares during the period. Quest 10 Wealth Builders Inc. lifted its position in shares of Fifth Third Bancorp by 619.6% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock worth $34,000 after buying an additional 632 shares during the period. Finally, Salomon & Ludwin LLC lifted its position in shares of Fifth Third Bancorp by 77.6% during the 4th quarter. Salomon & Ludwin LLC now owns 737 shares of the financial services provider’s stock worth $36,000 after buying an additional 322 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on FITB shares. Piper Sandler restated an “overweight” rating and set a $54.00 target price (down from $57.00) on shares of Fifth Third Bancorp in a research report on Monday, March 30th. Royal Bank Of Canada restated an “outperform” rating and set a $57.00 target price on shares of Fifth Third Bancorp in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their target price on Fifth Third Bancorp from $53.00 to $54.50 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. TD Cowen restated a “buy” rating and set a $60.00 target price on shares of Fifth Third Bancorp in a research report on Tuesday, February 3rd. Finally, Truist Financial set a $57.00 target price on Fifth Third Bancorp in a research report on Tuesday, April 21st. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.19.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Peter L. Sefzik sold 20,000 shares of Fifth Third Bancorp stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the completion of the transaction, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. The trade was a 9.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin J. Khanna sold 6,000 shares of Fifth Third Bancorp stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the transaction, the executive vice president owned 76,299 shares of the company’s stock, valued at approximately $3,873,700.23. The trade was a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.

Fifth Third Bancorp Trading Up 0.7%

Shares of FITB opened at $49.82 on Wednesday. The stock has a fifty day moving average price of $48.18 and a two-hundred day moving average price of $48.09. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 0.83. Fifth Third Bancorp has a 52-week low of $37.28 and a 52-week high of $55.44. The company has a market cap of $45.15 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 1.01 and a beta of 0.94.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.87. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The firm had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the previous year, the company posted $0.71 EPS. Analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.40 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.2%. Fifth Third Bancorp’s payout ratio is presently 53.69%.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.