Bailard Inc. Increases Stake in Fifth Third Bancorp (NASDAQ:FITB)

Bailard Inc. grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,178 shares of the financial services provider’s stock after buying an additional 6,214 shares during the quarter. Bailard Inc.’s holdings in Fifth Third Bancorp were worth $2,417,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp during the 4th quarter worth $25,000. Sierra Ocean LLC purchased a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $28,000. Venturi Wealth Management LLC increased its holdings in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. BankPlus Trust Department purchased a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the firm’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 transaction of $761,272.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Price Performance

FITB opened at $43.47 on Monday. The company’s 50 day simple moving average is $43.43 and its 200 day simple moving average is $43.80. 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 1 year low of $33.48 and a 1 year high of $49.07. The stock has a market capitalization of $28.93 billion, a PE ratio of 13.84, a P/E/G ratio of 1.42 and a beta of 1.23.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.40%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Barclays increased their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Citigroup increased their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One equities research 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.75.

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.