Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp reduced its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 20.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,422 shares of the financial services provider's stock after selling 15,036 shares during the period. OMERS ADMINISTRATION Corp's holdings in Fifth Third Bancorp were worth $2,512,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FITB. Charles Schwab Investment Management Inc. raised its stake in shares of Fifth Third Bancorp by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock valued at $912,692,000 after acquiring an additional 812,385 shares during the period. Geode Capital Management LLC increased its holdings in Fifth Third Bancorp by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider's stock valued at $715,219,000 after purchasing an additional 285,910 shares during the last quarter. Boston Partners raised its position in Fifth Third Bancorp by 6.2% in the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock valued at $597,692,000 after purchasing an additional 823,803 shares during the period. First Trust Advisors LP lifted its stake in Fifth Third Bancorp by 12.1% during the fourth quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock worth $402,991,000 after purchasing an additional 1,027,044 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth $371,836,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Insider Transactions at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This trade represents a 6.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction 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 represents a 14.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Truist Financial cut their price objective on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company dropped their target price on Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Morgan Stanley reduced their price target on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Piper Sandler restated an "overweight" rating and issued a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price on the stock in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $46.56.

Fifth Third Bancorp Stock Up 0.4%

NASDAQ FITB traded up $0.15 during 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 50 day moving average price of $36.94 and a two-hundred day moving average price of $41.73. The stock has a market cap of $26.46 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same quarter in the prior year, the firm posted $0.70 earnings per share. On average, equities research analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's payout ratio is currently 46.98%.

Fifth Third Bancorp Company 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.