Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers grew its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 191,244 shares of the financial services provider's stock after buying an additional 12,165 shares during the quarter. Cetera Investment Advisers' holdings in Fifth Third Bancorp were worth $8,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FITB. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $28,000. BankPlus Trust Department purchased a new position in Fifth Third Bancorp in the fourth quarter valued at $29,000. Quarry LP purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $29,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Insider Activity

In related news, COO James C. Leonard sold 17,200 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm'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 transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares of the company's stock, 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. 0.53% of the stock is owned by company insiders.

Fifth Third Bancorp Trading Up 5.1%

Shares of NASDAQ:FITB opened at $39.24 on Tuesday. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. 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 company has a 50 day moving average price of $36.93 and a 200 day moving average price of $41.84.

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 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, research analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is 46.98%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of 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. Keefe, Bruyette & Woods lowered their price objective on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Stephens reiterated an "equal weight" rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Piper Sandler restated an "overweight" rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Robert W. Baird raised shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective for the company in a research report on Monday, April 7th. One equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus 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.

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