Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 192,432 shares of the financial services provider's stock after selling 20,417 shares during the period. Voya Investment Management LLC's holdings in Fifth Third Bancorp were worth $8,136,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. World Investment Advisors LLC bought a new position in Fifth Third Bancorp during the third quarter valued at $263,000. Wilmington Savings Fund Society FSB bought a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $191,000. Tidal Investments LLC lifted its stake in shares of Fifth Third Bancorp by 10.0% during the 3rd quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider's stock worth $1,069,000 after acquiring an additional 2,265 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock valued at $242,713,000 after acquiring an additional 409,292 shares during the period. Finally, 1ST Source Bank bought a new position in Fifth Third Bancorp in the 3rd quarter valued at $211,000. 83.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction 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 sale, the executive vice president now owns 130,856 shares of the company's stock, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares of the company's stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB traded up $1.01 during trading on Friday, hitting $37.10. The stock had a trading volume of 2,677,135 shares, compared to its average volume of 4,469,789. The stock has a 50-day simple moving average of $37.53 and a two-hundred day simple moving average of $42.15. The stock has a market capitalization of $24.79 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month 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.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced 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 net margin of 17.43% and a return on equity of 14.10%. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same period in the previous year, the business posted $0.70 EPS. On average, equities research analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is 46.98%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Stephens restated an "equal weight" rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Piper Sandler restated an "overweight" rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Baird R W raised shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Finally, Robert W. Baird upgraded Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price target on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of "Moderate Buy" and an average price target of $46.24.

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.