Fuller & Thaler Asset Management Inc. Boosts Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Fuller & Thaler Asset Management Inc. raised its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 86.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,975 shares of the financial services provider's stock after purchasing an additional 12,025 shares during the period. Fuller & Thaler Asset Management Inc.'s holdings in Fifth Third Bancorp were worth $1,098,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp during the fourth quarter worth about $25,000. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp during the fourth quarter worth about $28,000. BankPlus Trust Department purchased a new position in Fifth Third Bancorp during the fourth quarter worth about $29,000. Midwest Capital Advisors LLC purchased a new position in Fifth Third Bancorp during the fourth quarter worth about $33,000. Finally, Y.D. More Investments Ltd boosted its holdings in Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock worth $35,000 after purchasing an additional 449 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Insider Activity

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company'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 completion of the transaction, the chief operating officer now owns 244,487 shares of the company's stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the company'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 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 corporate insiders.

Fifth Third Bancorp Price Performance

FITB stock traded up $0.21 during mid-day trading on Thursday, hitting $36.15. 946,862 shares of the stock were exchanged, compared to its average volume of 4,471,169. 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 business has a fifty day moving average price of $37.79 and a 200 day moving average price of $42.26. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The stock has a market capitalization of $24.15 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.42 and a beta of 0.99.

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 (EPS) for the quarter, topping 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 firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. On average, sell-side analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FITB shares. DA Davidson dropped their target price on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their target price on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company dropped their target price on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Barclays dropped their target price on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Piper Sandler restated an "overweight" rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of "Moderate Buy" and an average price target of $46.24.

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.