Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,959,001 shares of the financial services provider’s stock after buying an additional 285,910 shares during the quarter. Geode Capital Management LLC owned 2.53% of Fifth Third Bancorp worth $715,219,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. HighPoint Advisor Group LLC increased its stake in Fifth Third Bancorp by 3.0% in the 4th quarter. HighPoint Advisor Group LLC now owns 86,977 shares of the financial services provider’s stock valued at $3,827,000 after purchasing an additional 2,533 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Fifth Third Bancorp by 5.2% in the fourth quarter. Franklin Resources Inc. now owns 5,763,716 shares of the financial services provider’s stock valued at $243,690,000 after buying an additional 287,342 shares during the last quarter. Family Legacy Inc. lifted its stake in shares of Fifth Third Bancorp by 10.4% during the 4th quarter. Family Legacy Inc. now owns 14,844 shares of the financial services provider’s stock worth $630,000 after purchasing an additional 1,396 shares during the period. B. Metzler seel. Sohn & Co. AG boosted its stake in Fifth Third Bancorp by 25.2% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 153,686 shares of the financial services provider’s stock worth $6,498,000 after buying an additional 30,914 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Fifth Third Bancorp by 13.8% in the fourth quarter. Alliancebernstein L.P. now owns 4,485,567 shares of the financial services provider’s stock valued at $189,650,000 after purchasing an additional 542,460 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the firm’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 transaction of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % 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 Stock Performance

FITB opened at $39.62 on Thursday. 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 business has a 50 day moving average price of $41.88 and a two-hundred day moving average price of $43.47. The company has a market capitalization of $26.47 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.74%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analysts Set New Price Targets

A number of research firms have recently commented on FITB. Piper Sandler restated an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Truist Financial raised 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. Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Morgan Stanley lowered their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, DA Davidson increased their price objective 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $47.50.

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.