Andra AP fonden Buys 187,600 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Andra AP fonden lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1,645.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,000 shares of the financial services provider’s stock after buying an additional 187,600 shares during the quarter. Andra AP fonden’s holdings in Fifth Third Bancorp were worth $8,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC grew its stake in Fifth Third Bancorp by 89.5% in the third 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 period. Sierra Ocean LLC bought a new position in Fifth Third Bancorp in the fourth quarter worth $28,000. BankPlus Trust Department purchased a new position in Fifth Third Bancorp during the fourth quarter valued at $29,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at $36,000. 83.79% of the stock is owned by institutional investors.

Insider Activity

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was 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 in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FITB. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. DA Davidson raised their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup upped their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Truist Financial lifted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.31.

Fifth Third Bancorp Stock Up 0.5 %

FITB opened at $40.06 on Friday. The stock has a market capitalization of $26.66 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.42 and a beta of 1.21. The firm has a 50 day moving average price of $43.23 and a 200-day moving average price of $43.79. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month 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 business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.69%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

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.