Mizuho Securities USA LLC Purchases 19,665 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Mizuho Securities USA LLC raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 44.8% in the fourth quarter, HoldingsChannel reports. The firm owned 63,552 shares of the financial services provider’s stock after acquiring an additional 19,665 shares during the period. Mizuho Securities USA LLC’s holdings in Fifth Third Bancorp were worth $2,687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FITB. Quantbot Technologies LP bought a new position in Fifth Third Bancorp during the 4th quarter worth about $711,000. Virtu Financial LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $877,000. Oxford Financial Group LTD. LLC increased its holdings in Fifth Third Bancorp by 3.1% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 10,341 shares of the financial services provider’s stock valued at $437,000 after buying an additional 313 shares during the period. Lee Danner & Bass Inc. bought a new position in Fifth Third Bancorp in the fourth quarter worth approximately $86,000. Finally, Blueshift Asset Management LLC lifted its holdings in Fifth Third Bancorp by 80.3% during the fourth quarter. Blueshift Asset Management LLC now owns 10,856 shares of the financial services provider’s stock worth $459,000 after buying an additional 4,834 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $40.25 on Tuesday. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market cap of $26.89 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.42 and a beta of 1.21. The business’s 50 day moving average price is $42.50 and its 200 day moving average price is $43.57.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.68%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FITB. Citigroup cut their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. Piper Sandler restated an “overweight” rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Barclays boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.86.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated 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 owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction dated 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 $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

About Fifth Third Bancorp

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.