Deprince Race & Zollo Inc. Reduces Stake in Fifth Third Bancorp (NASDAQ:FITB)

Deprince Race & Zollo Inc. lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 675,478 shares of the financial services provider's stock after selling 131,786 shares during the period. Deprince Race & Zollo Inc. owned 0.10% of Fifth Third Bancorp worth $28,559,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. World Investment Advisors LLC bought a new position in Fifth Third Bancorp during the 3rd quarter worth $263,000. Wilmington Savings Fund Society FSB acquired a new stake in Fifth Third Bancorp in the third quarter valued at about $191,000. Tidal Investments LLC boosted its stake in Fifth Third Bancorp by 10.0% in the third quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider's stock valued at $1,069,000 after buying an additional 2,265 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Fifth Third Bancorp by 1.8% in the third quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider's stock valued at $35,194,000 after buying an additional 14,137 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Fifth Third Bancorp by 8.9% during the fourth quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider's stock valued at $28,286,000 after purchasing an additional 54,463 shares in the last quarter. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Trading Up 5.1%

FITB stock traded up $1.89 during trading on Monday, hitting $39.24. 4,458,776 shares of the company traded hands, compared to its average volume of 4,474,179. The firm has a market capitalization of $26.19 billion, a PE ratio of 12.50, a P/E/G 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 50-day moving average of $36.96 and a 200-day moving average of $41.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating 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 company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the prior year, the business posted $0.70 EPS. Analysts predict 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 disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given 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 presently 46.98%.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the firm'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 trade represents a 6.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 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 approximately $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 owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Piper Sandler reissued an "overweight" rating and issued a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their target price on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company lowered their target price on 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. Finally, DA Davidson decreased their price objective on 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $46.24.

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.