Barclays PLC Has $119.74 Million Stock Holdings in Fifth Third Bancorp $FITB

Barclays PLC trimmed its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 35.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,557,899 shares of the financial services provider's stock after selling 1,389,347 shares during the period. Barclays PLC owned approximately 0.39% of Fifth Third Bancorp worth $119,735,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Fifth Third Bancorp by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 83,948,876 shares of the financial services provider's stock worth $3,929,647,000 after acquiring an additional 637,207 shares in the last quarter. Capital World Investors increased its position in shares of Fifth Third Bancorp by 5.6% during the fourth quarter. Capital World Investors now owns 32,549,669 shares of the financial services provider's stock worth $1,523,650,000 after acquiring an additional 1,719,361 shares in the last quarter. State Street Corp increased its position in shares of Fifth Third Bancorp by 0.3% during the fourth quarter. State Street Corp now owns 31,437,600 shares of the financial services provider's stock worth $1,484,021,000 after acquiring an additional 101,245 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Fifth Third Bancorp by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,939,023 shares of the financial services provider's stock worth $1,120,586,000 after acquiring an additional 530,489 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Fifth Third Bancorp by 2.6% during the third quarter. Invesco Ltd. now owns 21,224,600 shares of the financial services provider's stock worth $945,556,000 after acquiring an additional 546,914 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin J. Khanna sold 6,000 shares of the company's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the transaction, the executive vice president directly owned 76,299 shares in the company, valued at $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter L. Sefzik sold 20,000 shares of the company's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the transaction, the executive vice president owned 189,382 shares in the company, valued at approximately $9,556,215.72. This represents a 9.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FITB shares. Jefferies Financial Group increased their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, April 8th. The Goldman Sachs Group increased their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Barclays boosted their price objective on shares of Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, April 20th. Royal Bank Of Canada reissued an "outperform" rating and issued a $57.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, May 4th. Finally, Zacks Research lowered shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 11th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $57.34.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $53.02 on Tuesday. The company has a market cap of $48.05 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.09 and a beta of 0.92. Fifth Third Bancorp has a 1-year low of $37.88 and a 1-year high of $55.44. The company's fifty day simple moving average is $49.95 and its 200 day simple moving average is $48.99. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last issued its earnings results on Friday, April 17th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.20. The business had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same period in the previous year, the company earned $0.71 earnings per share. On average, research analysts forecast that Fifth Third Bancorp will post 4.1 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th. Fifth Third Bancorp's payout ratio is presently 53.69%.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.

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