Dynasty Wealth Management LLC Sells 368 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Dynasty Wealth Management LLC cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,706 shares of the financial services provider’s stock after selling 368 shares during the period. Dynasty Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $284,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth $25,000. Sierra Ocean LLC bought a new position in Fifth Third Bancorp in the 4th quarter worth about $28,000. Venturi Wealth Management LLC grew its holdings in 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 valued at $29,000 after buying an additional 316 shares in the last quarter. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at about $29,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $33,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $43.47 on Friday. The company’s fifty day moving average is $43.43 and its 200 day moving average is $43.74. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 52 week low of $33.48 and a 52 week high of $49.07. The stock has a market cap of $29.15 billion, a PE ratio of 13.84, a PEG ratio of 1.42 and a beta of 1.23.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 3.40%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. DA Davidson boosted their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Barclays increased their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Citigroup boosted their target price 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. Finally, Wells Fargo & Company raised their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.75.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction 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 approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp 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.