Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,292,594 shares of the financial services provider's stock after selling 11,459 shares during the period. Nuveen Asset Management LLC owned about 1.39% of Fifth Third Bancorp worth $392,891,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $28,000. Quarry LP purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $29,000. BankPlus Trust Department purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $29,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $33,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, 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 sale, the chief operating officer now owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. This trade represents a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm's 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 completion of the sale, 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 currently owned by insiders.

Fifth Third Bancorp Stock Performance

Shares of FITB traded up $0.15 during mid-day trading on Friday, reaching $39.64. 3,128,258 shares of the company's stock were exchanged, compared to its average volume of 4,483,440. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $26.46 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. The business's fifty day simple moving average is $36.94 and its 200-day simple moving average is $41.73. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted 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. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the firm posted $0.70 EPS. On average, equities research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.37 dividend. The ex-dividend date of this dividend 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 (DPR) is 46.98%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on FITB shares. TD Cowen started coverage on shares of Fifth Third Bancorp in a research note on Thursday. They issued a "buy" rating and a $52.00 price target on the stock. Morgan Stanley cut their price objective 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. Citigroup cut their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Baird R W raised shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a report on Monday, April 7th. Finally, Piper Sandler reissued an "overweight" rating and set a $53.00 price objective (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 issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $46.56.

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.