Daymark Wealth Partners LLC Decreases Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Daymark Wealth Partners LLC lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 0.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 269,453 shares of the financial services provider’s stock after selling 689 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Fifth Third Bancorp were worth $11,392,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Eads & Heald Wealth Management boosted its holdings in Fifth Third Bancorp by 3.0% in the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock worth $347,000 after buying an additional 235 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Fifth Third Bancorp by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 373,380 shares of the financial services provider’s stock worth $15,925,000 after purchasing an additional 1,492 shares during the last quarter. MCF Advisors LLC grew its holdings in shares of Fifth Third Bancorp by 1.9% during the fourth quarter. MCF Advisors LLC now owns 42,801 shares of the financial services provider’s stock worth $1,821,000 after buying an additional 794 shares in the last quarter. Proquility Private Wealth Partners LLC raised its position in shares of Fifth Third Bancorp by 0.9% in the fourth quarter. Proquility Private Wealth Partners LLC now owns 100,544 shares of the financial services provider’s stock valued at $4,251,000 after buying an additional 864 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its stake in shares of Fifth Third Bancorp by 8.6% in the fourth quarter. Atomi Financial Group Inc. now owns 10,571 shares of the financial services provider’s stock worth $447,000 after buying an additional 835 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FITB. Morgan Stanley upped their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Keefe, Bruyette & Woods raised their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler increased their price target on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Barclays lifted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. One equities research 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. According to data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus price target of $45.92.

Fifth Third Bancorp Stock Up 1.2 %

Shares of NASDAQ FITB opened at $44.86 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock has a market cap of $30.08 billion, a P/E ratio of 14.90, a PEG ratio of 1.93 and a beta of 1.24. The business’s fifty day simple moving average is $44.91 and its 200-day simple moving average is $43.02. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07.

Fifth Third Bancorp Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction dated 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 owns 55,913 shares in the company, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by insiders.

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.