Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Capital International Sarl

Capital International Sarl grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 77.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,022 shares of the financial services provider’s stock after acquiring an additional 9,640 shares during the period. Capital International Sarl’s holdings in Fifth Third Bancorp were worth $931,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $28,000. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at $29,000. Midwest Capital Advisors LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth $33,000. Finally, Y.D. More Investments Ltd increased its position in shares of Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 449 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FITB. Citigroup reduced their price target on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Wells Fargo & Company lowered their price target on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Truist Financial raised their price objective 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. DA Davidson lifted their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, Morgan Stanley cut their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and an average price target of $48.12.

Insider Activity

In related news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction 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 sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $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 company insiders.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $34.15 on Friday. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The stock has a market cap of $22.82 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.42 and a beta of 0.99. The stock’s 50 day moving average price is $39.16 and its 200 day moving average price is $42.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the business earned $0.70 earnings per share. Equities research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp’s payout ratio is 46.98%.

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.