Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Schroder Investment Management Group

Schroder Investment Management Group raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,168,323 shares of the financial services provider’s stock after acquiring an additional 164,260 shares during the quarter. Schroder Investment Management Group owned 0.17% of Fifth Third Bancorp worth $49,478,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in Fifth Third Bancorp during the 4th quarter valued at $25,000. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp in the 4th quarter valued at about $28,000. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at about $29,000. Midwest Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $33,000. Finally, Y.D. More Investments Ltd lifted its stake in shares of Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 449 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the topic of several analyst reports. Wells Fargo & Company dropped their price objective on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday. Truist Financial lifted their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Citigroup decreased their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Barclays boosted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Stephens reaffirmed an “equal weight” rating and set a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.64.

Insiders Place Their Bets

In other news, COO James C. Leonard sold 17,200 shares of the business’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 completion of the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the sale, the executive vice president now owns 130,856 shares in the company, 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. 0.53% of the stock is owned by insiders.

Fifth Third Bancorp Stock Performance

FITB stock opened at $39.20 on Tuesday. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07. The stock has a market capitalization of $26.19 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s fifty day moving average is $42.08 and its two-hundred day moving average is $43.52.

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 paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.78%. 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.