Ameriprise Financial Inc. Sells 55,895 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Ameriprise Financial Inc. trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 831,979 shares of the financial services provider's stock after selling 55,895 shares during the period. Ameriprise Financial Inc. owned approximately 0.12% of Fifth Third Bancorp worth $35,236,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth approximately $371,836,000. PL Capital Advisors LLC increased its position in Fifth Third Bancorp by 4,128.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider's stock worth $78,654,000 after acquiring an additional 1,816,320 shares during the period. Jupiter Asset Management Ltd. bought a new position in Fifth Third Bancorp during the fourth quarter worth $53,508,000. First Trust Advisors LP raised its stake in Fifth Third Bancorp by 12.1% during the 4th quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock valued at $402,991,000 after purchasing an additional 1,027,044 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $38,971,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Insiders Place Their Bets

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction on Wednesday, February 19th. The shares were 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 owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. This represents a 6.57% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

FITB has been the topic of several research reports. Royal Bank of Canada restated an "outperform" rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Stephens restated an "equal weight" rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Truist Financial reduced their price target on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley reduced their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Piper Sandler reissued 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of "Moderate Buy" and an average target price of $46.56.

Fifth Third Bancorp Stock Up 0.4%

Shares of FITB traded up $0.15 during mid-day trading on Friday, hitting $39.64. 3,128,258 shares of the company's stock were exchanged, compared to its average volume of 4,470,633. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07. The company has a market cap of $26.46 billion, a PE ratio of 12.62, a P/E/G ratio of 1.42 and a beta of 0.89. The company has a 50-day simple moving average of $36.91 and a 200 day simple moving average of $41.78.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its 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 business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the firm earned $0.70 earnings per share. On average, research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.73%. Fifth Third Bancorp's dividend payout ratio is 46.98%.

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.