Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Alerus Financial NA

Alerus Financial NA decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 232,293 shares of the financial services provider’s stock after selling 11,032 shares during the quarter. Fifth Third Bancorp comprises 0.8% of Alerus Financial NA’s holdings, making the stock its 23rd largest holding. Alerus Financial NA’s holdings in Fifth Third Bancorp were worth $9,821,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $25,000. Sierra Ocean LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter worth about $28,000. BankPlus Trust Department purchased a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Midwest Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $33,000. Finally, Y.D. More Investments Ltd lifted its holdings in Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after buying an additional 449 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FITB shares. Stephens reissued an “equal weight” rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Truist Financial upped their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. DA Davidson boosted their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Barclays raised their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average price target of $46.86.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp 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 directly owns 244,487 shares in the company, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Fifth Third Bancorp Stock Down 1.0 %

Fifth Third Bancorp stock opened at $39.77 on Friday. The company has a 50 day moving average of $42.29 and a 200-day moving average of $43.51. 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 stock has a market capitalization of $26.57 billion, a PE ratio of 12.67, 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. Stockholders of record on Monday, March 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp’s payout ratio is presently 47.13%.

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.