Banco Santander S.A. Takes Position in Fifth Third Bancorp (NASDAQ:FITB)

Banco Santander S.A. bought a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,435 shares of the financial services provider's stock, valued at approximately $357,000.

Several other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Fifth Third Bancorp by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock valued at $912,692,000 after purchasing an additional 812,385 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock valued at $242,713,000 after purchasing an additional 409,292 shares during the last quarter. Smead Capital Management Inc. raised its holdings in shares of Fifth Third Bancorp by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider's stock valued at $95,278,000 after purchasing an additional 75,024 shares during the last quarter. PL Capital Advisors LLC raised its holdings in shares of Fifth Third Bancorp by 4,128.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider's stock valued at $78,654,000 after purchasing an additional 1,816,320 shares during the last quarter. Finally, Zacks Investment Management raised its holdings in shares of Fifth Third Bancorp by 10.0% during the third quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider's stock valued at $74,450,000 after purchasing an additional 158,067 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research firms have recently weighed in on FITB. Piper Sandler reissued an "overweight" rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Stephens reaffirmed an "equal weight" rating and set a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Barclays upped their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Citigroup upped their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Finally, Wells Fargo & Company upped their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, November 15th. 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. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $47.31.

Insider Activity

In other news, COO James C. Leonard sold 17,200 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. This represents a 6.57 % 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, 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 transaction 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. This represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.50% of the company's stock.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock traded down $1.05 during mid-day trading on Tuesday, reaching $38.23. 5,530,676 shares of the company's stock traded hands, compared to its average volume of 4,785,028. The company has a market cap of $25.54 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.42 and a beta of 1.21. The stock has a 50 day moving average of $43.16 and a two-hundred day moving average of $43.80. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07.

About Fifth Third Bancorp

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.