Gryphon Financial Partners LLC Boosts Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Gryphon Financial Partners LLC lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 12.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,483 shares of the financial services provider’s stock after purchasing an additional 817 shares during the period. Gryphon Financial Partners LLC’s holdings in Fifth Third Bancorp were worth $316,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $25,000. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth $28,000. Venturi Wealth Management LLC lifted its stake in shares of Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the last quarter. BankPlus Trust Department bought a new stake in Fifth Third Bancorp during the fourth quarter valued at about $29,000. Finally, Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp during the fourth quarter valued at about $33,000. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Citigroup upped their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. One equities 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.75.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following 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. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Down 1.0 %

NASDAQ:FITB opened at $43.05 on Tuesday. The firm has a market capitalization of $28.65 billion, a P/E ratio of 13.71, a PEG ratio of 1.42 and a beta of 1.23. The company’s fifty day moving average price is $43.44 and its 200-day moving average price is $43.82. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07. 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 Announces Dividend

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

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.