Aster Capital Management DIFC Ltd Buys 12,384 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Aster Capital Management DIFC Ltd raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 114.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,158 shares of the financial services provider’s stock after buying an additional 12,384 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Fifth Third Bancorp were worth $979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its holdings in Fifth Third Bancorp by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock worth $912,692,000 after purchasing an additional 812,385 shares during the period. Geode Capital Management LLC increased its stake in shares of Fifth Third Bancorp by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider’s stock valued at $715,219,000 after buying an additional 285,910 shares during the period. Boston Partners raised its holdings in shares of Fifth Third Bancorp by 6.2% in 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 in the last quarter. Norges Bank purchased a new stake in Fifth Third Bancorp in the fourth quarter worth about $371,836,000. Finally, Franklin Resources Inc. grew its holdings in Fifth Third Bancorp by 5.2% during the 4th quarter. Franklin Resources Inc. now owns 5,763,716 shares of the financial services provider’s stock worth $243,690,000 after acquiring an additional 287,342 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FITB. JPMorgan Chase & Co. lowered their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Citigroup dropped 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. Finally, Wells Fargo & Company reduced their target price on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $48.19.

Insider Activity

In other Fifth Third Bancorp news, 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 value of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents 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 4.8 %

Shares of FITB stock opened at $33.75 on Friday. 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 fifty-two week low of $32.75 and a fifty-two week high of $49.07. The firm has a market capitalization of $22.55 billion, a PE ratio of 10.75, a P/E/G ratio of 1.42 and a beta of 0.99. The stock’s 50-day simple moving average is $41.50 and its 200-day simple moving average is $43.36.

Fifth Third Bancorp Announces Dividend

The firm 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. 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 payout ratio is 47.13%.

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.