1,265,560 Shares in Fifth Third Bancorp (NASDAQ:FITB) Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, Holdings Channel reports. The fund acquired 1,265,560 shares of the financial services provider’s stock, valued at approximately $53,508,000.

A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in Fifth Third Bancorp by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock valued at $912,692,000 after purchasing an additional 812,385 shares during the period. Franklin Resources Inc. boosted its holdings in Fifth Third Bancorp by 8.1% in the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after purchasing an additional 409,292 shares during the period. Davis Selected Advisers boosted its holdings in Fifth Third Bancorp by 0.4% in the 4th quarter. Davis Selected Advisers now owns 2,444,176 shares of the financial services provider’s stock valued at $103,340,000 after purchasing an additional 8,640 shares during the period. Smead Capital Management Inc. boosted its holdings in Fifth Third Bancorp by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock valued at $95,278,000 after purchasing an additional 75,024 shares during the period. Finally, PL Capital Advisors LLC boosted its holdings in Fifth Third Bancorp by 4,128.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock valued at $78,654,000 after purchasing an additional 1,816,320 shares during the period. Institutional investors own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now 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.

Fifth Third Bancorp Trading Down 2.7 %

Shares of NASDAQ FITB opened at $38.23 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week high of $49.07. The firm has a 50 day moving average price of $43.08 and a two-hundred day moving average price of $43.77. The stock has a market cap of $25.54 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. DA Davidson upped 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. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, Stephens reiterated an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average target price of $47.31.

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.