Headlands Technologies LLC Acquires Shares of 4,382 Fifth Third Bancorp (NASDAQ:FITB)

Headlands Technologies LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,382 shares of the financial services provider’s stock, valued at approximately $185,000.

A number of other institutional investors have also recently made changes to their positions in the business. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at approximately $25,000. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $28,000. BankPlus Trust Department purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth approximately $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $36,000. Finally, Midwest Capital Advisors LLC purchased a new position in Fifth Third Bancorp during the 4th quarter valued at $33,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 4.8 %

Shares of FITB stock opened at $33.75 on Friday. Fifth Third Bancorp has a twelve month low of $32.75 and a twelve month high of $49.07. The stock has a market cap of $22.55 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.42 and a beta of 0.99. The stock has a 50 day moving average of $41.50 and a 200 day moving average of $43.36. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given 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 yield of 4.39%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s 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 sale, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, 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 owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Stephens restated an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Truist Financial upped their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Citigroup cut their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.19.

Fifth Third Bancorp Company 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.