Cresset Asset Management LLC Has $1.47 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Cresset Asset Management LLC reduced its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 51.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,589 shares of the financial services provider's stock after selling 37,152 shares during the quarter. Cresset Asset Management LLC's holdings in Fifth Third Bancorp were worth $1,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FITB. Cetera Investment Advisers grew its position in Fifth Third Bancorp by 6.8% in the fourth quarter. Cetera Investment Advisers now owns 191,244 shares of the financial services provider's stock valued at $8,086,000 after acquiring an additional 12,165 shares during the period. Centiva Capital LP grew its position in Fifth Third Bancorp by 92.2% in the fourth quarter. Centiva Capital LP now owns 50,704 shares of the financial services provider's stock valued at $2,144,000 after acquiring an additional 24,319 shares during the period. Captrust Financial Advisors grew its position in Fifth Third Bancorp by 2.8% in the fourth quarter. Captrust Financial Advisors now owns 148,082 shares of the financial services provider's stock valued at $6,261,000 after acquiring an additional 3,968 shares during the period. Cary Street Partners Financial LLC bought a new stake in Fifth Third Bancorp in the fourth quarter valued at $313,000. Finally, Baird Financial Group Inc. grew its position in Fifth Third Bancorp by 7.1% in the fourth quarter. Baird Financial Group Inc. now owns 704,208 shares of the financial services provider's stock valued at $29,774,000 after acquiring an additional 46,730 shares during the period. 83.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on FITB shares. Robert W. Baird upgraded Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price on the stock in a report on Monday, April 7th. Baird R W upgraded Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Piper Sandler restated an "overweight" rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Wells Fargo & Company decreased their target price on Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, DA Davidson decreased their target price on Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $46.56.

Insider Activity

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the business's stock in a transaction that occurred 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 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 transaction was disclosed in a document filed 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 that occurred 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 company insiders.

Fifth Third Bancorp Trading Up 0.7%

NASDAQ:FITB traded up $0.27 during mid-day trading on Friday, hitting $39.76. The company had a trading volume of 1,221,109 shares, compared to its average volume of 4,463,326. The firm has a market cap of $26.54 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.42 and a beta of 0.89. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The business's fifty day moving average is $36.91 and its two-hundred day moving average is $41.78. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07.

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

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

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.