Capital World Investors Has $1.37 Billion Holdings in Fifth Third Bancorp $FITB

Key Points

• Capital World Investors boosted its stake in Fifth Third Bancorp by 6.2% in Q3 to 30,830,308 shares, valued at about $1.37 billion and representing 4.66% of the company.
• Institutional investors hold 83.79% of FITB while insiders own 0.53%; EVP Jude Schramm sold 2,250 shares on Dec. 11 at $48.50, a 1.71% reduction in his position.
• Analysts are generally positive—17 Buy vs. 3 Hold—yielding a "Moderate Buy" consensus and an average price target of $56.91, with several firms recently raising targets.

Capital World Investors lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,830,308 shares of the financial services provider's stock after acquiring an additional 1,803,861 shares during the period. Capital World Investors owned 4.66% of Fifth Third Bancorp worth $1,373,490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital International Inc. CA lifted its position in shares of Fifth Third Bancorp by 31.2% during the third quarter. Capital International Inc. CA now owns 81,035 shares of the financial services provider's stock valued at $3,610,000 after purchasing an additional 19,289 shares in the last quarter. Legal & General Group Plc increased its stake in Fifth Third Bancorp by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 4,391,148 shares of the financial services provider's stock valued at $195,626,000 after buying an additional 83,666 shares during the last quarter. Banque Cantonale Vaudoise lifted its position in shares of Fifth Third Bancorp by 143.6% during the 3rd quarter. Banque Cantonale Vaudoise now owns 23,340 shares of the financial services provider's stock worth $1,040,000 after buying an additional 13,759 shares in the last quarter. Fieldview Capital Management LLC boosted its stake in shares of Fifth Third Bancorp by 0.9% in the 3rd quarter. Fieldview Capital Management LLC now owns 126,220 shares of the financial services provider's stock worth $5,623,000 after buying an additional 1,176 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Fifth Third Bancorp by 7.1% in the third quarter. Russell Investments Group Ltd. now owns 511,763 shares of the financial services provider's stock valued at $22,802,000 after acquiring an additional 33,762 shares in the last quarter. Institutional investors own 83.79% of the company's stock.

Insider Buying and Selling

In related news, EVP Jude Schramm sold 2,250 shares of the firm's stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the transaction, the executive vice president directly owned 129,191 shares of the company's stock, valued at approximately $6,265,763.50. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company's stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $46.59 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $42.02 billion, a PE ratio of 13.16, a P/E/G ratio of 0.95 and a beta of 0.96. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $55.44. The company has a 50-day moving average price of $50.63 and a two-hundred day moving average price of $46.62.

Analysts Set New Price Targets

A number of brokerages recently commented on FITB. Janney Montgomery Scott lifted their price target on Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a "buy" rating in a report on Wednesday, January 21st. Royal Bank Of Canada raised their target price on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an "outperform" rating in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods lifted their target price on Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a "market perform" rating in a research note on Wednesday, January 21st. UBS Group restated a "buy" rating and set a $59.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Finally, Citigroup raised their price objective on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a "neutral" rating in a report on Friday, January 23rd. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.91.

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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