Farringdon Capital Ltd. Purchases New Position in Fifth Third Bancorp (NASDAQ:FITB)

Farringdon Capital Ltd. acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 19,167 shares of the financial services provider’s stock, valued at approximately $810,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marshall Wace LLP lifted its position in Fifth Third Bancorp by 379.0% during the 4th quarter. Marshall Wace LLP now owns 521,325 shares of the financial services provider’s stock worth $22,042,000 after acquiring an additional 412,496 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Fifth Third Bancorp by 9.8% during the fourth quarter. NewEdge Advisors LLC now owns 41,756 shares of the financial services provider’s stock worth $1,765,000 after purchasing an additional 3,739 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $382,000. Canada Post Corp Registered Pension Plan acquired a new stake in Fifth Third Bancorp during the 4th quarter valued at $630,000. Finally, CreativeOne Wealth LLC increased its stake in Fifth Third Bancorp by 7.9% during the 4th quarter. CreativeOne Wealth LLC now owns 6,815 shares of the financial services provider’s stock worth $288,000 after buying an additional 498 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction that occurred 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 owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % 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 insiders.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $34.40 on Thursday. Fifth Third Bancorp has a 12 month low of $32.25 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 stock has a fifty day moving average price of $39.54 and a 200 day moving average price of $42.77. The company has a market cap of $22.98 billion, a P/E ratio of 10.96, a PEG ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.30%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FITB shares. Barclays upped 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 report on Monday, January 6th. JPMorgan Chase & Co. lowered their price objective on Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. DA Davidson lifted their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Citigroup reduced their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Finally, Baird R W upgraded shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.12.

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.