Andra AP fonden Has $8.41 Million Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Andra AP fonden increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 1,645.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 199,000 shares of the financial services provider's stock after purchasing an additional 187,600 shares during the quarter. Andra AP fonden's holdings in Fifth Third Bancorp were worth $8,414,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. Farther Finance Advisors LLC raised its stake in shares of Fifth Third Bancorp by 32.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,640 shares of the financial services provider's stock worth $156,000 after purchasing an additional 883 shares in the last quarter. Concurrent Investment Advisors LLC bought a new position in Fifth Third Bancorp during the third quarter valued at approximately $215,000. Graypoint LLC lifted its stake in Fifth Third Bancorp by 7.0% in the third quarter. Graypoint LLC now owns 11,259 shares of the financial services provider's stock valued at $482,000 after acquiring an additional 733 shares during the last quarter. Principal Financial Group Inc. grew its position in Fifth Third Bancorp by 1.8% in the third quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider's stock worth $35,194,000 after acquiring an additional 14,137 shares in the last quarter. Finally, TFB Advisors LLC bought a new stake in Fifth Third Bancorp in the third quarter worth approximately $223,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

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Fifth Third Bancorp Price Performance

NASDAQ FITB traded up $0.30 on Wednesday, reaching $38.53. The company's stock had a trading volume of 4,786,020 shares, compared to its average volume of 4,782,977. The firm has a market cap of $25.74 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07. The business has a 50-day moving average price of $43.08 and a 200 day moving average price of $43.77.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. DA Davidson lifted their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Citigroup boosted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Barclays increased their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Piper Sandler restated 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, Keefe, Bruyette & Woods increased their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $47.31.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $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. 0.50% of the stock is currently owned by insiders.

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.