Aster Capital Management DIFC Ltd Boosts Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Aster Capital Management DIFC Ltd increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 114.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,158 shares of the financial services provider’s stock after acquiring an additional 12,384 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Fifth Third Bancorp were worth $979,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. Boston Common Asset Management LLC raised its position in shares of Fifth Third Bancorp by 12.4% during the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after purchasing an additional 34,203 shares during the last quarter. Boston Partners raised its holdings in shares of Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock valued at $597,692,000 after acquiring an additional 823,803 shares during the last quarter. AMJ Financial Wealth Management boosted its stake in shares of Fifth Third Bancorp by 4.2% in the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock worth $9,843,000 after acquiring an additional 9,401 shares during the last quarter. Banco Santander S.A. purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $357,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in Fifth Third Bancorp in the 4th quarter valued at $9,878,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 4.8 %

NASDAQ:FITB opened at $33.75 on Friday. Fifth Third Bancorp has a 52 week low of $32.75 and a 52 week 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. The stock’s fifty day moving average is $41.50 and its two-hundred day moving average is $43.36. The stock has a market capitalization of $22.55 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.39%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The sale was disclosed in a filing with the SEC, 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 that occurred 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 sale, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and issued a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Citigroup dropped their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Finally, Stephens restated an “equal weight” rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.19.

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.