Atwood & Palmer Inc. Has $37.11 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Atwood & Palmer Inc. grew its stake in Fifth Third Bancorp (NASDAQ:FITB) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 877,694 shares of the financial services provider’s stock after purchasing an additional 1,733 shares during the quarter. Fifth Third Bancorp makes up about 2.5% of Atwood & Palmer Inc.’s holdings, making the stock its 8th largest position. Atwood & Palmer Inc. owned approximately 0.13% of Fifth Third Bancorp worth $37,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of FITB. UMB Bank n.a. boosted its holdings in Fifth Third Bancorp by 3.2% during the fourth quarter. UMB Bank n.a. now owns 18,442 shares of the financial services provider’s stock worth $780,000 after purchasing an additional 570 shares during the last quarter. Jackson Square Capital LLC lifted its position in shares of Fifth Third Bancorp by 36.0% during the 4th quarter. Jackson Square Capital LLC now owns 14,398 shares of the financial services provider’s stock worth $609,000 after buying an additional 3,809 shares in the last quarter. Sanibel Captiva Trust Company Inc. purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth approximately $400,000. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $25,000. Finally, Brooklyn Investment Group increased its position in shares of Fifth Third Bancorp by 9.1% during the fourth quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FITB shares. Morgan Stanley upped their price objective on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Barclays raised their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Truist Financial initiated 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. Finally, Evercore ISI lifted their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.92.

Fifth Third Bancorp Trading Up 2.5 %

Shares of Fifth Third Bancorp stock opened at $44.34 on Tuesday. The company’s 50-day moving average price is $45.02 and its 200-day moving average price is $42.90. The company has a current ratio of 0.82, a quick 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. The company has a market cap of $29.73 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.93 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly 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 net margin of 16.58% and a return on equity of 14.58%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts expect that Fifth Third Bancorp will post 3.33 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

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

Fifth Third Bancorp Company 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.