Russell Investments Group Ltd. Has $18.72 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Russell Investments Group Ltd. decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 442,762 shares of the financial services provider’s stock after selling 11,760 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.07% of Fifth Third Bancorp worth $18,721,000 as of its most recent SEC filing.

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

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $35.82 on Thursday. The stock has a fifty day moving average of $40.50 and a 200 day moving average of $43.06. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.42 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.13%. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Insider Activity

In related news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 244,487 shares in the company, valued at $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.

Analysts Set New Price Targets

A number of research analysts have weighed in on FITB shares. Stephens reaffirmed an “equal weight” rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Robert W. Baird raised shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a research report on Monday. Truist Financial upped their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Finally, Wells Fargo & Company decreased their price objective on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average target price of $48.12.

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.