Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,000 shares of the financial services provider’s stock after selling 40,000 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Fifth Third Bancorp were worth $16,066,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its holdings in shares of Fifth Third Bancorp by 8.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 122,290 shares of the financial services provider’s stock valued at $5,170,000 after acquiring an additional 9,850 shares in the last quarter. Summit Securities Group LLC acquired a new position in Fifth Third Bancorp during the 4th quarter valued at approximately $262,000. Schroder Investment Management Group raised its holdings in shares of Fifth Third Bancorp by 16.4% in the fourth quarter. Schroder Investment Management Group now owns 1,168,323 shares of the financial services provider’s stock worth $49,478,000 after buying an additional 164,260 shares during the last quarter. Allstate Corp acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $838,000. Finally, DnB Asset Management AS grew its holdings in shares of Fifth Third Bancorp by 2.4% during the fourth quarter. DnB Asset Management AS now owns 120,343 shares of the financial services provider’s stock valued at $5,088,000 after buying an additional 2,812 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial lifted their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Morgan Stanley decreased their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. DA Davidson raised their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, Stephens reissued an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.64.

Insider Buying and Selling at Fifth Third Bancorp

In other news, 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 value of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’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 transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was 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.

Fifth Third Bancorp Stock Down 2.4 %

Shares of NASDAQ FITB opened at $38.81 on Monday. The firm has a market cap of $25.93 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company’s 50-day simple moving average is $42.18 and its 200-day simple moving average is $43.53. 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 has a 52-week low of $33.82 and a 52-week high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed 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 currently 47.13%.

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.