FIL Ltd Grows Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

FIL Ltd boosted its position in Fifth Third Bancorp (NASDAQ:FITB) by 92.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,422 shares of the financial services provider’s stock after buying an additional 9,321 shares during the period. FIL Ltd’s holdings in Fifth Third Bancorp were worth $821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Boston Common Asset Management LLC boosted its holdings in shares of Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after acquiring an additional 34,203 shares in the last quarter. Boston Partners lifted its position in Fifth Third Bancorp by 6.2% in the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock valued at $597,692,000 after purchasing an additional 823,803 shares during the period. AMJ Financial Wealth Management boosted its holdings in Fifth Third Bancorp by 4.2% in the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock valued at $9,843,000 after purchasing an additional 9,401 shares in the last quarter. Banco Santander S.A. acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $357,000. Finally, Lockheed Martin Investment Management Co. acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $9,878,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 directly 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the 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 transaction, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Up 0.0 %

Shares of NASDAQ:FITB opened at $33.84 on Monday. The company has a market capitalization of $22.61 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.42 and a beta of 0.99. The stock’s fifty day simple moving average is $40.10 and its 200-day simple moving average is $42.94. Fifth Third Bancorp has a 52-week low of $32.25 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.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.37%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Analysts Set New Price Targets

FITB has been the topic of a number of analyst reports. Barclays lifted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. decreased their target price on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 3rd. Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target for the company in a report on Monday, April 7th. Piper Sandler reissued an “overweight” rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.12.

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.