Ontario Teachers Pension Plan Board Invests $382,000 in Fifth Third Bancorp (NASDAQ:FITB)

Ontario Teachers Pension Plan Board bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,037 shares of the financial services provider's stock, valued at approximately $382,000.

Several other hedge funds have also added to or reduced their stakes in FITB. Canada Post Corp Registered Pension Plan bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at $630,000. CreativeOne Wealth LLC increased its stake in shares of Fifth Third Bancorp by 7.9% in the 4th quarter. CreativeOne Wealth LLC now owns 6,815 shares of the financial services provider's stock valued at $288,000 after acquiring an additional 498 shares in the last quarter. Mariner LLC increased its stake in shares of Fifth Third Bancorp by 0.4% in the 4th quarter. Mariner LLC now owns 335,836 shares of the financial services provider's stock valued at $14,199,000 after acquiring an additional 1,425 shares in the last quarter. Trustmark National Bank Trust Department increased its stake in shares of Fifth Third Bancorp by 18.7% in the 4th quarter. Trustmark National Bank Trust Department now owns 27,765 shares of the financial services provider's stock valued at $1,174,000 after acquiring an additional 4,366 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of Fifth Third Bancorp by 0.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 51,109 shares of the financial services provider's stock valued at $2,161,000 after acquiring an additional 322 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Truist Financial lowered their price objective on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday. Wells Fargo & Company decreased their price target on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a research note on Monday. DA Davidson decreased their price target on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating for the company in a research note on Monday. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price target for the company in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.24.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO James C. Leonard sold 17,200 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock traded up $0.46 during trading on Wednesday, hitting $35.11. The stock had a trading volume of 2,331,835 shares, compared to its average volume of 4,460,797. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock's 50 day moving average is $38.78 and its two-hundred day moving average is $42.55. The stock has a market cap of $23.46 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted 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 business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. As a group, analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued 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 4.22%. Fifth Third Bancorp's payout ratio is 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.