Rockefeller Capital Management L.P. Boosts Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Rockefeller Capital Management L.P. boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,104,159 shares of the financial services provider's stock after acquiring an additional 44,518 shares during the quarter. Rockefeller Capital Management L.P. owned 0.16% of Fifth Third Bancorp worth $46,663,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in Fifth Third Bancorp by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock valued at $912,692,000 after acquiring an additional 812,385 shares in the last quarter. Geode Capital Management LLC grew its position in Fifth Third Bancorp by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider's stock worth $715,219,000 after purchasing an additional 285,910 shares in the last quarter. Boston Partners lifted its position in shares of Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after buying an additional 823,803 shares in the last quarter. Norges Bank bought a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $371,836,000. Finally, Franklin Resources Inc. lifted its holdings in Fifth Third Bancorp by 5.2% during the fourth quarter. Franklin Resources Inc. now owns 5,763,716 shares of the financial services provider's stock worth $243,690,000 after acquiring an additional 287,342 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB traded down $0.25 during mid-day trading on Friday, reaching $34.15. 11,341,295 shares of the company were exchanged, compared to its average volume of 4,501,299. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07. The company's 50 day moving average price is $39.35 and its 200 day moving average price is $42.71. The stock has a market capitalization of $22.82 billion, a PE ratio of 10.88, a PEG ratio of 1.42 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.14 billion for the quarter, compared to analysts' expectations 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 last year, the firm posted $0.70 EPS. Sell-side analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 4.33%. Fifth Third Bancorp's dividend payout ratio is currently 47.13%.

Insider Buying and Selling

In related news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The shares were 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 of the company's stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO James C. Leonard sold 17,200 shares of the firm'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 completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Truist Financial lifted their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Morgan Stanley lowered their price target on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Barclays boosted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Finally, Wells Fargo & Company cut their target price on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, March 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $48.12.

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.