Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Capital International Sarl

Capital International Sarl boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 77.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,022 shares of the financial services provider’s stock after acquiring an additional 9,640 shares during the period. Capital International Sarl’s holdings in Fifth Third Bancorp were worth $931,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Boston Common Asset Management LLC raised its stake in shares of Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after purchasing an additional 34,203 shares during the last quarter. Boston Partners increased its holdings in shares of Fifth Third Bancorp by 6.2% in the 4th 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 in the last quarter. AMJ Financial Wealth Management boosted its holdings in Fifth Third Bancorp by 4.2% during the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock worth $9,843,000 after buying an additional 9,401 shares in the last quarter. Banco Santander S.A. acquired a new position in Fifth Third Bancorp during the fourth quarter worth about $357,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in Fifth Third Bancorp in the fourth quarter valued at about $9,878,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FITB shares. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Robert W. Baird raised Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target for the company in a research note on Monday, April 7th. 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 note on Thursday, March 13th. Barclays lifted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Baird R W upgraded shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.12.

Fifth Third Bancorp Price Performance

FITB opened at $34.15 on Friday. The stock has a market capitalization of $22.82 billion, a PE ratio of 10.88, a P/E/G ratio of 1.42 and a beta of 0.99. The company’s 50 day simple moving average is $39.16 and its 200 day simple moving average is $42.66. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same quarter in the previous year, the business earned $0.70 earnings per share. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared 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 was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 4.33%. Fifth Third Bancorp’s payout ratio is 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $5,698,778.80. This trade 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 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.