Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Natixis Advisors LLC

Natixis Advisors LLC increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 816,116 shares of the financial services provider’s stock after acquiring an additional 15,667 shares during the period. Natixis Advisors LLC owned approximately 0.12% of Fifth Third Bancorp worth $34,505,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FITB. Frank Rimerman Advisors LLC increased its stake in Fifth Third Bancorp by 5.6% in the 4th quarter. Frank Rimerman Advisors LLC now owns 9,368 shares of the financial services provider’s stock worth $396,000 after purchasing an additional 494 shares in the last quarter. Picton Mahoney Asset Management increased its stake in Fifth Third Bancorp by 451.4% in the 4th quarter. Picton Mahoney Asset Management now owns 2,680 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,194 shares in the last quarter. First National Trust Co increased its stake in Fifth Third Bancorp by 6.7% in the 4th quarter. First National Trust Co now owns 82,257 shares of the financial services provider’s stock worth $3,478,000 after purchasing an additional 5,158 shares in the last quarter. VanWeelden Wealth Management LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth about $870,000. Finally, PGGM Investments increased its stake in Fifth Third Bancorp by 58.1% in the 4th quarter. PGGM Investments now owns 172,150 shares of the financial services provider’s stock worth $7,279,000 after purchasing an additional 63,229 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Truist Financial lifted their target price 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. Barclays lifted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup lifted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.36.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $38.55 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The business’s 50 day moving average is $42.84 and its two-hundred day moving average is $43.69. The company has a market cap of $25.76 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07.

Insiders Place Their Bets

In other news, 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 transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the business’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 sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Fifth Third Bancorp 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.