American Century Companies Inc. Increases Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

American Century Companies Inc. boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 775,359 shares of the financial services provider's stock after acquiring an additional 49,798 shares during the period. American Century Companies Inc. owned 0.12% of Fifth Third Bancorp worth $32,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of FITB. Eads & Heald Wealth Management raised its position in shares of Fifth Third Bancorp by 3.0% in the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider's stock valued at $347,000 after purchasing an additional 235 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider's stock worth $285,000 after buying an additional 236 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Fifth Third Bancorp by 4.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider's stock valued at $231,000 after buying an additional 246 shares during the last quarter. Brooklyn Investment Group lifted its position in Fifth Third Bancorp by 9.1% during the 4th quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider's stock worth $131,000 after acquiring an additional 257 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in Fifth Third Bancorp by 16.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider's stock valued at $79,000 after purchasing an additional 261 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB traded up $0.35 during trading on Wednesday, reaching $39.28. The stock had a trading volume of 612,924 shares, compared to its average volume of 4,338,309. The business has a fifty day moving average price of $41.96 and a 200-day moving average price of $43.49. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $26.24 billion, a PE ratio of 12.49, a PEG ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp's payout ratio is 47.13%.

Analysts Set New Price Targets

A number of brokerages recently commented on FITB. Morgan Stanley dropped their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Piper Sandler reiterated an "overweight" rating and issued a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Truist Financial boosted their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Finally, Barclays upped their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $47.50.

Insider Activity

In related news, COO James C. Leonard sold 17,200 shares of the company's stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm'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 transaction 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 trade represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

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.