Dynamic Technology Lab Private Ltd Makes New $1.14 Million Investment in Fifth Third Bancorp (NASDAQ:FITB)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 26,940 shares of the financial services provider’s stock, valued at approximately $1,139,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Benjamin Edwards Inc. boosted its stake in Fifth Third Bancorp by 139.4% during the third quarter. Benjamin Edwards Inc. now owns 11,190 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 6,515 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of Fifth Third Bancorp by 57.7% in the 3rd quarter. IHT Wealth Management LLC now owns 12,795 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 4,683 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Fifth Third Bancorp by 2.6% in the 3rd quarter. Royal London Asset Management Ltd. now owns 263,429 shares of the financial services provider’s stock worth $11,285,000 after buying an additional 6,725 shares during the last quarter. Quantinno Capital Management LP increased its position in Fifth Third Bancorp by 17.1% during the 3rd quarter. Quantinno Capital Management LP now owns 75,257 shares of the financial services provider’s stock valued at $3,224,000 after buying an additional 10,991 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new position in Fifth Third Bancorp during the third quarter valued at $1,337,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade 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 is accessible through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the business’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 sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Fifth Third Bancorp Stock Down 4.8 %

FITB stock opened at $33.75 on Friday. The company has a market cap of $22.55 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The business’s 50-day moving average is $41.50 and its two-hundred day moving average is $43.36. Fifth Third Bancorp has a fifty-two week low of $32.75 and a fifty-two week high of $49.07.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed 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. This represents a $1.48 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analyst Ratings Changes

FITB has been the topic of a number of recent research reports. Barclays increased their target price 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. Morgan Stanley cut their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Wells Fargo & Company decreased their target price on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. DA Davidson upped their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.19.

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.