Bartlett & CO. Wealth Management LLC Cuts Stake in Fifth Third Bancorp (NASDAQ:FITB)

Bartlett & CO. Wealth Management LLC lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 14.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,695 shares of the financial services provider’s stock after selling 6,650 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $1,693,000 at the end of the most recent reporting period.

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 shares of Fifth Third Bancorp during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC raised its stake in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Fifth Third Bancorp during the third quarter valued at $36,000. Hexagon Capital Partners LLC grew its stake in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth about $39,000. Institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a report on Wednesday. Barclays lifted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Evercore ISI increased their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus price target of $46.75.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $43.85 on Friday. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The stock’s fifty day moving average price is $44.85 and its 200-day moving average price is $43.02. The firm has a market cap of $29.40 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.95 and a beta of 1.24. 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 Announces Dividend

The firm also recently declared 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 was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.38%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insider Transactions at Fifth Third Bancorp

In related 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.