National Bank of Canada FI Sells 236,740 Shares of Fifth Third Bancorp (NASDAQ:FITB)

National Bank of Canada FI trimmed its position in Fifth Third Bancorp (NASDAQ:FITB) by 49.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,714 shares of the financial services provider’s stock after selling 236,740 shares during the period. National Bank of Canada FI’s holdings in Fifth Third Bancorp were worth $10,389,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several analysts have weighed in on FITB shares. JPMorgan Chase & Co. dropped their target price on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday. Citigroup dropped their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Truist Financial raised their target price 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. Morgan Stanley reduced their price target on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.19.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $33.75 on Friday. 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 company has a market cap of $22.55 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. The stock’s 50-day moving average is $41.50 and its two-hundred day moving average is $43.36. Fifth Third Bancorp has a 1-year low of $32.75 and a 1-year 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. Investors of record on Monday, March 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 4.39%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Insider Buying and Selling

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 19th. The stock was 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 of the company’s stock, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction dated 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 in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

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.