LSV Asset Management reduced its position in shares of Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 35.5% in the 4th quarter, Holdings Channel reports. The firm owned 1,013,500 shares of the financial services provider’s stock after selling 558,600 shares during the period. LSV Asset Management’s holdings in Fifth Third Bancorp were worth $47,442,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. increased its holdings in shares of Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after buying an additional 292 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in shares of Fifth Third Bancorp by 501.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock worth $29,000 after buying an additional 517 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth $30,000. United Community Bank increased its holdings in shares of Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after buying an additional 581 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its holdings in shares of Fifth Third Bancorp by 619.6% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock worth $34,000 after buying an additional 632 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.
Fifth Third Bancorp Stock Performance
Shares of Fifth Third Bancorp stock opened at $49.48 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a twelve month low of $36.64 and a twelve month high of $55.44. The stock has a market cap of $44.84 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 1.01 and a beta of 0.94. The company’s fifty day moving average is $47.94 and its 200 day moving average is $47.99.
Fifth Third Bancorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.2%. Fifth Third Bancorp’s payout ratio is currently 53.69%.
Analyst Ratings Changes
FITB has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Fifth Third Bancorp from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, May 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $57.00 price target on shares of Fifth Third Bancorp in a report on Monday, May 4th. Robert W. Baird upped their price target on shares of Fifth Third Bancorp from $55.00 to $56.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. TD Cowen reiterated a “buy” rating and set a $60.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Fifth Third Bancorp from $53.00 to $54.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $57.19.
Read Our Latest Stock Report on FITB
Insider Buying and Selling at Fifth Third Bancorp
In related news, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the sale, the executive vice president owned 76,299 shares of the company’s stock, valued at $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter L. Sefzik sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the sale, the executive vice president directly owned 189,382 shares in the company, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.51% of the company’s stock.
Fifth Third Bancorp Profile
Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.
On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.
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