Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Jump Financial LLC

Jump Financial LLC lowered its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 71.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,232 shares of the financial services provider's stock after selling 15,252 shares during the quarter. Jump Financial LLC's holdings in Fifth Third Bancorp were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $371,836,000. PL Capital Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 4,128.0% during 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 in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Fifth Third Bancorp during the 4th quarter worth $53,508,000. Raymond James Financial Inc. purchased a new position in Fifth Third Bancorp in the fourth quarter valued at about $38,971,000. Finally, Boston Partners lifted its stake in shares of Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after purchasing an additional 823,803 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on FITB. JPMorgan Chase & Co. reduced their price target on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Baird R W upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Robert W. Baird raised shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective for the company in a research report on Monday, April 7th. Finally, Barclays dropped their target price on Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. One equities research 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. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.24.

Fifth Third Bancorp Stock Performance

FITB traded up $0.85 on Friday, hitting $36.94. 530,987 shares of the company's stock were exchanged, compared to its average volume of 4,464,825. 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 fifty day moving average of $37.65 and a two-hundred day moving average of $42.20. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The firm has a market cap of $24.68 billion, a PE ratio of 11.75, a P/E/G ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the business posted $0.70 EPS. On average, research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.37 per share. 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 4.01%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the 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 completion of the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of the company'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 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 $10,820,994.62. This trade represents 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.

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.