Virtu Financial LLC Invests $877,000 in Fifth Third Bancorp (NASDAQ:FITB)

Virtu Financial LLC acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 20,752 shares of the financial services provider's stock, valued at approximately $877,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FITB. Oxford Financial Group LTD. LLC grew its position in shares of Fifth Third Bancorp by 3.1% in the 4th quarter. Oxford Financial Group LTD. LLC now owns 10,341 shares of the financial services provider's stock worth $437,000 after buying an additional 313 shares during the period. Lee Danner & Bass Inc. bought a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $86,000. Blueshift Asset Management LLC increased its stake in shares of Fifth Third Bancorp by 80.3% during the fourth quarter. Blueshift Asset Management LLC now owns 10,856 shares of the financial services provider's stock valued at $459,000 after purchasing an additional 4,834 shares in the last quarter. iA Global Asset Management Inc. boosted its position in shares of Fifth Third Bancorp by 578.8% in the 4th quarter. iA Global Asset Management Inc. now owns 56,755 shares of the financial services provider's stock worth $2,400,000 after purchasing an additional 48,394 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter worth approximately $268,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB traded down $0.40 during trading on Thursday, hitting $39.77. The company's stock had a trading volume of 3,003,879 shares, compared to its average volume of 4,220,632. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $26.57 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a 50-day moving average of $42.29 and a 200-day moving average of $43.51. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07.

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Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.37 dividend. 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 3.72%. Fifth Third Bancorp's dividend payout ratio is currently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the company'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 transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. Citigroup lowered their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating for the company in a research report on Monday. 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 report on Monday, January 6th. Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, DA Davidson increased their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of "Hold" and a consensus target price of $46.86.

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.