Arjuna Capital Raises Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Arjuna Capital grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 102.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,387 shares of the financial services provider’s stock after acquiring an additional 8,786 shares during the period. Arjuna Capital’s holdings in Fifth Third Bancorp were worth $735,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of Fifth Third Bancorp by 32.0% in the third quarter. Farther Finance Advisors LLC now owns 3,640 shares of the financial services provider’s stock worth $156,000 after buying an additional 883 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $215,000. Graypoint LLC raised its holdings in shares of Fifth Third Bancorp by 7.0% during the 3rd quarter. Graypoint LLC now owns 11,259 shares of the financial services provider’s stock worth $482,000 after acquiring an additional 733 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Fifth Third Bancorp by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider’s stock valued at $35,194,000 after acquiring an additional 14,137 shares during the last quarter. Finally, TFB Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter valued at $223,000. Institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays increased their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Stephens reissued an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday. Truist Financial raised their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.31.

Fifth Third Bancorp Price Performance

Shares of FITB stock opened at $40.06 on Friday. The company’s 50-day simple moving average is $43.23 and its two-hundred day simple moving average is $43.77. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07. The company has a market capitalization of $26.66 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.69%. Fifth Third Bancorp’s payout ratio is currently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the firm’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 in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.