Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,542 shares of the financial services provider’s stock after selling 1,565 shares during the period. Brown Brothers Harriman & Co.’s holdings in Fifth Third Bancorp were worth $1,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. D.A. Davidson & CO. lifted its stake in Fifth Third Bancorp by 1.4% during the 3rd quarter. D.A. Davidson & CO. now owns 21,423 shares of the financial services provider’s stock valued at $918,000 after acquiring an additional 289 shares during the period. FMR LLC raised its holdings in shares of Fifth Third Bancorp by 5.7% during the third quarter. FMR LLC now owns 1,692,599 shares of the financial services provider’s stock worth $72,511,000 after purchasing an additional 91,574 shares during the last quarter. Townsquare Capital LLC acquired a new position in Fifth Third Bancorp during the third quarter valued at $804,000. CreativeOne Wealth LLC purchased a new stake in Fifth Third Bancorp in the third quarter valued at $271,000. Finally, Public Sector Pension Investment Board grew its position in Fifth Third Bancorp by 1.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 118,197 shares of the financial services provider’s stock worth $5,064,000 after purchasing an additional 2,200 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley lowered their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Citigroup lowered their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Stephens reaffirmed an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. DA Davidson increased their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Barclays lifted their price objective 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. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.64.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $38.81 on Monday. 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 1 year low of $33.82 and a 1 year high of $49.07. The firm has a market capitalization of $25.93 billion, a PE ratio of 12.36, a P/E/G ratio of 1.42 and a beta of 1.21. The business’s 50 day moving average price is $42.18 and its 200-day moving average price is $43.53.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.81%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $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 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.