Edmond DE Rothschild Holding S.A. Reduces Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Edmond DE Rothschild Holding S.A. reduced its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 380,000 shares of the financial services provider’s stock after selling 40,000 shares during the quarter. Edmond DE Rothschild Holding S.A. owned 0.06% of Fifth Third Bancorp worth $16,066,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at approximately $25,000. Sierra Ocean LLC bought a new position in Fifth Third Bancorp in the 4th quarter worth $28,000. BankPlus Trust Department purchased a new position in Fifth Third Bancorp during the fourth quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new position in Fifth Third Bancorp during the third quarter valued at $36,000. Finally, Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp during the fourth quarter valued at about $33,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $38.81 on Monday. The company’s 50-day moving average price is $42.18 and its 200-day moving average price is $43.53. 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 company has a market cap of $25.93 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.81%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Barclays raised 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 report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, Citigroup decreased their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.64.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was 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 owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Fifth Third Bancorp 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.