Axa S.A. Sells 21,205 Shares of Fifth Third Bancorp (NASDAQ:FITB)

AXA S.A. decreased its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 44.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,857 shares of the financial services provider's stock after selling 21,205 shares during the period. AXA S.A.'s holdings in Fifth Third Bancorp were worth $1,136,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

FITB has been the subject of several research analyst reports. Piper Sandler reaffirmed 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. Truist Financial decreased their target price on 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. DA Davidson dropped their price target on Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Barclays decreased their price objective on Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Robert W. Baird raised Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price for the company in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $46.24.

Fifth Third Bancorp Trading Up 5.1%

NASDAQ:FITB traded up $1.89 during trading hours on Monday, hitting $39.24. 4,780,739 shares of the company were exchanged, compared to its average volume of 4,474,182. The company has a fifty day simple moving average of $36.93 and a 200 day simple moving average of $41.84. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its 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 company had revenue of $2.14 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.70 EPS. Sell-side analysts expect that Fifth Third Bancorp will post 3.68 EPS 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. Shareholders of record on Monday, March 31st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.77%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 130,856 shares of the company's stock, valued at approximately $5,698,778.80. This represents a 14.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. The trade was a 6.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

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.