Fifth Third Bancorp Makes New Investment in Better Home & Finance Holding Company $BETR

Fifth Third Bancorp acquired a new position in shares of Better Home & Finance Holding Company (NASDAQ:BETR) during the first quarter, HoldingsChannel reports. The firm acquired 40,989 shares of the company’s stock, valued at approximately $1,460,000.

Several other large investors also recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in shares of Better Home & Finance in the third quarter valued at $31,000. BNP Paribas Financial Markets raised its position in Better Home & Finance by 15.3% during the third quarter. BNP Paribas Financial Markets now owns 6,729 shares of the company’s stock worth $378,000 after acquiring an additional 894 shares in the last quarter. Rhumbline Advisers raised its position in Better Home & Finance by 17.8% during the third quarter. Rhumbline Advisers now owns 6,044 shares of the company’s stock worth $339,000 after acquiring an additional 914 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Better Home & Finance by 10.4% in the fourth quarter. Wells Fargo & Company MN now owns 10,447 shares of the company’s stock valued at $340,000 after acquiring an additional 987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Better Home & Finance by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 17,407 shares of the company’s stock valued at $567,000 after acquiring an additional 1,029 shares during the last quarter. Institutional investors and hedge funds own 20.94% of the company’s stock.

Insider Transactions at Better Home & Finance

In other news, CEO Vishal Garg acquired 15,600 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $25.00 per share, with a total value of $390,000.00. Following the acquisition, the chief executive officer directly owned 118,260 shares in the company, valued at $2,956,500. This represents a 15.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Hugh R. Frater acquired 5,150 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $24.34 per share, for a total transaction of $125,351.00. Following the transaction, the director directly owned 6,326 shares in the company, valued at approximately $153,974.84. This trade represents a 437.93% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have acquired 51,433 shares of company stock valued at $1,334,148. Company insiders own 27.72% of the company’s stock.

Better Home & Finance Trading Down 6.2%

Better Home & Finance stock opened at $21.80 on Friday. The company has a market capitalization of $411.37 million, a price-to-earnings ratio of -1.85 and a beta of 1.71. Better Home & Finance Holding Company has a 12 month low of $12.57 and a 12 month high of $94.06. The stock’s 50 day moving average is $26.13 and its 200-day moving average is $31.17.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Needham & Company LLC began coverage on shares of Better Home & Finance in a research report on Monday, May 4th. They issued a “buy” rating and a $53.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $32.00 price target on shares of Better Home & Finance in a report on Monday. Roth Capital assumed coverage on shares of Better Home & Finance in a research report on Monday, June 15th. They issued a “buy” rating and a $35.00 price objective on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Better Home & Finance in a research note on Friday, July 17th. Finally, BTIG Research began coverage on shares of Better Home & Finance in a research note on Tuesday, June 16th. They set a “buy” rating and a $36.00 target price for the company. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

About Better Home & Finance

Better Home & Finance Holding Co engages in the provision of comprehensive homeownership services. It offers mortgage loans, real estate agent services, and title and homeowner’s insurance services. The company was founded in 2014 and is headquartered in New York, NY.