Todd Asset Management LLC Lowers Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Todd Asset Management LLC lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,639,030 shares of the financial services provider’s stock after selling 14,451 shares during the period. Fifth Third Bancorp comprises 1.7% of Todd Asset Management LLC’s holdings, making the stock its 5th largest holding. Todd Asset Management LLC owned 0.24% of Fifth Third Bancorp worth $69,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. OneDigital Investment Advisors LLC grew its position in shares of Fifth Third Bancorp by 1.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its position in shares of Fifth Third Bancorp by 7.5% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 232 shares in the last quarter. Eads & Heald Wealth Management boosted its position in shares of Fifth Third Bancorp by 3.0% during the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 235 shares in the last quarter. Valley National Advisers Inc. boosted its position in shares of Fifth Third Bancorp by 3.6% during the 4th quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 236 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in shares of Fifth Third Bancorp by 4.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FITB. StockNews.com downgraded 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. Keefe, Bruyette & Woods raised their price target 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. Truist Financial raised their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, 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 research note on Wednesday, January 22nd. One 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. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $46.75.

Insider Buying and Selling

In related news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp 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 transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction 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 owns 244,487 shares in the company, valued at approximately $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 owned by corporate insiders.

Fifth Third Bancorp Stock Up 0.3 %

Fifth Third Bancorp stock opened at $42.99 on Tuesday. The firm has a 50 day moving average price of $43.44 and a 200-day moving average price of $43.69. 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 capitalization of $28.83 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.42 and a beta of 1.23. Fifth Third Bancorp has a twelve month low of $33.03 and a twelve month high of $49.07.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 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.