Marshall Wace LLP Boosts Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Marshall Wace LLP raised its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 379.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 521,325 shares of the financial services provider's stock after buying an additional 412,496 shares during the quarter. Marshall Wace LLP owned about 0.08% of Fifth Third Bancorp worth $22,042,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $28,000. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at about $29,000. Midwest Capital Advisors LLC bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $33,000. Finally, Y.D. More Investments Ltd boosted its stake in shares of Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 449 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on FITB shares. DA Davidson cut their target price on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Monday. Truist Financial lowered their target price on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a report on Tuesday. Royal Bank of Canada reissued an "outperform" rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered their price objective on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Finally, Piper Sandler reissued an "overweight" rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $46.24.

Fifth Third Bancorp Stock Down 1.1 %

NASDAQ FITB traded down $0.39 on Friday, hitting $35.40. 1,072,266 shares of the company were exchanged, compared to its average volume of 4,467,498. The stock has a fifty day moving average of $38.43 and a 200-day moving average of $42.45. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The company has a market cap of $23.65 billion, a PE ratio of 11.28, a PEG ratio of 1.42 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 EPS 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 firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. As a group, analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is currently 46.98%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the business'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 sale, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares of the company's stock, valued at $5,698,778.80. The trade was 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 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.