Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Trillium Asset Management LLC

Trillium Asset Management LLC lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 445,927 shares of the financial services provider’s stock after purchasing an additional 45,722 shares during the quarter. Trillium Asset Management LLC owned about 0.07% of Fifth Third Bancorp worth $18,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boston Common Asset Management LLC grew its stake in shares of Fifth Third Bancorp by 12.4% during the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after purchasing an additional 34,203 shares during the period. AMJ Financial Wealth Management grew its stake in Fifth Third Bancorp by 4.2% in the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock valued at $9,843,000 after acquiring an additional 9,401 shares during the last quarter. Banco Santander S.A. acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at about $357,000. Lockheed Martin Investment Management Co. acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at about $9,878,000. Finally, Smith Group Asset Management LLC acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at about $423,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Down 0.3 %

Shares of FITB stock opened at $38.89 on Wednesday. The firm has a market cap of $25.98 billion, a P/E ratio of 12.39, a PEG ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The firm’s 50-day simple moving average is $42.68 and its 200-day simple moving average is $43.64.

Insider Buying and Selling

In related 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 transaction of $945,035.00. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was 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. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the topic of a number of research reports. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson increased their price objective 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. Barclays increased their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Piper Sandler restated an “overweight” rating and issued a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, Stephens restated an “equal weight” rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $47.36.

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.