8,827 Shares in Fifth Third Bancorp (NASDAQ:FITB) Purchased by Stevens Capital Management LP

Stevens Capital Management LP bought a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,827 shares of the financial services provider's stock, valued at approximately $373,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its stake in Fifth Third Bancorp by 10.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 62,117 shares of the financial services provider's stock valued at $2,661,000 after buying an additional 5,682 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Fifth Third Bancorp by 2.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,137 shares of the financial services provider's stock worth $2,234,000 after acquiring an additional 1,216 shares during the period. Icon Wealth Advisors LLC purchased a new position in Fifth Third Bancorp in the third quarter worth $541,000. Meridian Wealth Management LLC bought a new position in Fifth Third Bancorp in the 3rd quarter valued at $1,100,000. Finally, Cerity Partners LLC increased its position in shares of Fifth Third Bancorp by 2.1% during the 3rd quarter. Cerity Partners LLC now owns 280,617 shares of the financial services provider's stock valued at $12,022,000 after purchasing an additional 5,899 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Price Performance

NASDAQ FITB traded down $0.23 during trading on Thursday, reaching $39.94. The company's stock had a trading volume of 763,310 shares, compared to its average volume of 4,213,365. The firm has a fifty day moving average of $42.36 and a 200 day moving average of $43.54. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07. The stock has a market capitalization of $26.68 billion, a PE ratio of 12.74, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

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Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.37 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.71%. Fifth Third Bancorp's dividend payout ratio is presently 47.13%.

Insider Activity

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 shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction, 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. Corporate insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on FITB shares. Barclays increased their price target 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. Keefe, Bruyette & Woods raised their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. 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. Morgan Stanley decreased their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Finally, Citigroup dropped their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $46.86.

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.