7,393 Shares in Fifth Third Bancorp (NASDAQ:FITB) Purchased by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,393 shares of the financial services provider's stock, valued at approximately $313,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Fifth Third Bancorp by 1.8% in the third quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider's stock valued at $35,194,000 after acquiring an additional 14,137 shares during the period. Graypoint LLC raised its stake in shares of Fifth Third Bancorp by 2.4% in the fourth quarter. Graypoint LLC now owns 11,534 shares of the financial services provider's stock worth $488,000 after buying an additional 275 shares during the period. Czech National Bank raised its stake in shares of Fifth Third Bancorp by 5.4% in the fourth quarter. Czech National Bank now owns 145,387 shares of the financial services provider's stock worth $6,147,000 after buying an additional 7,501 shares during the period. Wedmont Private Capital raised its stake in shares of Fifth Third Bancorp by 5.8% in the fourth quarter. Wedmont Private Capital now owns 10,077 shares of the financial services provider's stock worth $414,000 after buying an additional 550 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $177,000. 83.79% of the stock is owned by institutional investors.

Insider Activity

In related news, COO James C. Leonard sold 17,200 shares of the business's stock in a transaction 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 transaction, the chief operating officer now directly owns 244,487 shares in the company, 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 through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the business's 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 sale, 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. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on FITB shares. Piper Sandler reiterated an "overweight" rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. cut their target price on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Citigroup cut their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Robert W. Baird upgraded Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price target for the company in a report on Monday, April 7th. Finally, Barclays cut their price target on Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $46.24.

Fifth Third Bancorp Trading Down 0.2%

Shares of FITB stock traded down $0.06 on Wednesday, reaching $39.37. 4,169,376 shares of the company's stock were exchanged, compared to its average volume of 4,475,498. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $26.28 billion, a PE ratio of 12.54, a P/E/G ratio of 1.42 and a beta of 0.89. The company's fifty day simple moving average is $36.92 and its 200 day simple moving average is $41.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same period in the previous year, the company posted $0.70 EPS. As a group, analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.76%. Fifth Third Bancorp's dividend payout ratio is presently 46.98%.

Fifth Third Bancorp Company 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.