Centiva Capital LP Increases Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Centiva Capital LP lifted its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 92.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,704 shares of the financial services provider's stock after purchasing an additional 24,319 shares during the quarter. Centiva Capital LP's holdings in Fifth Third Bancorp were worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. World Investment Advisors LLC bought a new position in Fifth Third Bancorp during the 3rd quarter valued at about $263,000. Wilmington Savings Fund Society FSB bought a new position in Fifth Third Bancorp in the 3rd quarter worth $191,000. Tidal Investments LLC raised its stake in Fifth Third Bancorp by 10.0% during the 3rd quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider's stock valued at $1,069,000 after purchasing an additional 2,265 shares during the period. Principal Financial Group Inc. boosted its position in shares of Fifth Third Bancorp by 1.8% during the third quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider's stock worth $35,194,000 after acquiring an additional 14,137 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Fifth Third Bancorp by 232.0% during the 4th quarter. Versant Capital Management Inc now owns 1,006 shares of the financial services provider's stock valued at $43,000 after buying an additional 703 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on FITB shares. Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Truist Financial reduced their price target on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Baird R W upgraded Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Royal Bank of Canada reiterated an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, DA Davidson decreased their price target on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $46.24.

Fifth Third Bancorp Price Performance

FITB traded up $0.17 during midday trading on Friday, hitting $37.43. 4,425,064 shares of the company traded hands, compared to its average volume of 4,467,254. The business has a 50 day simple moving average of $36.96 and a two-hundred day simple moving average of $41.90. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.42 and a beta of 0.89. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its quarterly 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. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the company posted $0.70 EPS. On average, equities analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.95%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is currently 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp 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 value of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

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.