Mitsubishi UFJ Trust & Banking Corp Sells 11,365 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 311,362 shares of the financial services provider’s stock after selling 11,365 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Fifth Third Bancorp were worth $13,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Eads & Heald Wealth Management grew its stake in shares of Fifth Third Bancorp by 3.0% during the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock worth $347,000 after buying an additional 235 shares during the last quarter. Valley National Advisers Inc. grew its position in Fifth Third Bancorp by 3.6% during the 4th quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 236 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Fifth Third Bancorp by 4.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 246 shares in the last quarter. Brooklyn Investment Group raised its position in Fifth Third Bancorp by 9.1% in the fourth quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 257 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in Fifth Third Bancorp by 16.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 261 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Down 2.4 %

Fifth Third Bancorp stock opened at $38.81 on Friday. 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 company has a market capitalization of $25.93 billion, a PE ratio of 12.36, a PEG ratio of 1.42 and a beta of 1.21. The firm’s fifty day moving average is $42.18 and its 200 day moving average is $43.50. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.81%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction 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. This trade represents a 6.57 % 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.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FITB. Truist Financial upped 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. Piper Sandler restated an “overweight” rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Morgan Stanley cut their price target on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Citigroup decreased their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Stephens reaffirmed an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.64.

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.