Mn Services Vermogensbeheer B.V. Has $11.23 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Mn Services Vermogensbeheer B.V. grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,500 shares of the financial services provider’s stock after purchasing an additional 4,400 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Fifth Third Bancorp were worth $11,225,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $25,000. Venturi Wealth Management LLC increased its position in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the last quarter. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in Fifth Third Bancorp in the 3rd quarter worth about $36,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $43.47 on Friday. The business has a 50 day moving average price of $43.43 and a 200 day moving average price of $43.74. Fifth Third Bancorp has a twelve month low of $33.48 and a twelve month high of $49.07. The company has a market cap of $29.15 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 1.42 and a beta of 1.23. 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 was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.40%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Analysts Set New Price Targets

FITB has been the topic of several research reports. Citigroup upped their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Truist Financial upped their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Barclays upped their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.75.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the company’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 completion of the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James C. Leonard sold 17,200 shares of the company’s 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 transaction, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

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.