Great Lakes Advisors LLC Raises Stake in Fifth Third Bancorp (NASDAQ:FITB)

Great Lakes Advisors LLC boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.9% during the 4th quarter, HoldingsChannel reports. The firm owned 29,771 shares of the financial services provider’s stock after purchasing an additional 1,395 shares during the period. Great Lakes Advisors LLC’s holdings in Fifth Third Bancorp were worth $1,259,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $25,000. Venturi Wealth Management LLC lifted its stake in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 316 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $28,000. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $29,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $36,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial raised their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Barclays raised their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Stephens reiterated an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. DA Davidson raised their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley reduced their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.36.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $38.55 on Friday. The company has a market cap of $25.76 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50-day simple moving average of $42.84 and a 200-day simple moving average of $43.68.

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.