Picton Mahoney Asset Management Increases Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Picton Mahoney Asset Management lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 451.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,680 shares of the financial services provider’s stock after acquiring an additional 2,194 shares during the quarter. Picton Mahoney Asset Management’s holdings in Fifth Third Bancorp were worth $113,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Assetmark Inc. boosted its stake in Fifth Third Bancorp by 12.9% in the third quarter. Assetmark Inc. now owns 4,126 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 471 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of 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 worth $29,000 after purchasing an additional 316 shares in the last quarter. Aptus Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $206,000. Metis Global Partners LLC boosted its position in shares of Fifth Third Bancorp by 1.2% in the 3rd quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock valued at $932,000 after purchasing an additional 260 shares during the period. Finally, OneDigital Investment Advisors LLC grew its stake in Fifth Third Bancorp by 1.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 2.9 %

Shares of Fifth Third Bancorp stock opened at $38.55 on Monday. The company has a 50-day moving average of $42.84 and a two-hundred day moving average of $43.69. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock 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.

Insider Activity at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents 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 dated Wednesday, February 19th. The stock was 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 in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FITB shares. DA Davidson increased their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley lowered their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday. Stephens reaffirmed an “equal weight” rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Keefe, Bruyette & Woods increased their target price on shares of 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. Finally, Citigroup boosted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One investment 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. Based on data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $47.36.

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.