Oak Thistle LLC Invests $243,000 in Fifth Third Bancorp (NASDAQ:FITB)

Oak Thistle LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,752 shares of the financial services provider’s stock, valued at approximately $243,000.

A number of other large investors have also recently added to or reduced their stakes in FITB. Pines Wealth Management LLC bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $211,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at $204,000. Accurate Wealth Management LLC boosted its position in shares of Fifth Third Bancorp by 7.9% in the 4th quarter. Accurate Wealth Management LLC now owns 10,847 shares of the financial services provider’s stock valued at $446,000 after purchasing an additional 798 shares during the period. FNY Investment Advisers LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth about $177,000. Finally, Wedmont Private Capital raised its holdings in Fifth Third Bancorp by 5.8% during the 4th quarter. Wedmont Private Capital now owns 10,077 shares of the financial services provider’s stock worth $414,000 after buying an additional 550 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

FITB stock opened at $44.34 on Friday. The company has a market capitalization of $29.73 billion, a price-to-earnings ratio of 14.73, a P/E/G ratio of 1.79 and a beta of 1.24. The firm has a 50 day moving average of $45.06 and a two-hundred day moving average of $42.76. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the previous year, the company earned $0.92 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Fifth Third Bancorp will post 3.31 EPS for the current fiscal year.

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 paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 49.17%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler raised their target price on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Evercore ISI lifted their price objective on shares of 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. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Barclays lifted 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. Finally, Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $45.92.

Insider Buying and Selling

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

About Fifth Third Bancorp

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.