Fifth Third Bancorp (NASDAQ:FITB) Stake Lifted by Schroder Investment Management Group

Schroder Investment Management Group increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 16.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,168,323 shares of the financial services provider’s stock after buying an additional 164,260 shares during the quarter. Schroder Investment Management Group’s holdings in Fifth Third Bancorp were worth $49,478,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $25,000. Sierra Ocean LLC bought a new position in Fifth Third Bancorp during the fourth quarter valued at about $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp during the fourth quarter worth about $29,000. Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the fourth quarter worth about $33,000. Finally, Y.D. More Investments Ltd lifted its holdings in Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 449 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 1.0 %

Fifth Third Bancorp stock opened at $39.20 on Tuesday. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $26.19 billion, a PE ratio of 12.48, a P/E/G ratio of 1.42 and a beta of 1.21. The firm’s 50 day moving average price is $42.08 and its two-hundred day moving average price is $43.52.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.78%. Fifth Third Bancorp’s dividend payout ratio is 47.13%.

Insider Activity at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm’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 $5,698,778.80. This trade represents a 14.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction that occurred on 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 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.

Wall Street Analysts Forecast Growth

FITB has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday. Piper Sandler reissued an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note 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 on the stock in a report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods upped their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.64.

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.