Fifth Third Bancorp (NASDAQ:FITB) Stock Position Raised by Bailard Inc.

Bailard Inc. raised its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,178 shares of the financial services provider's stock after buying an additional 6,214 shares during the period. Bailard Inc.'s holdings in Fifth Third Bancorp were worth $2,417,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $25,000. Sierra Ocean LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at $28,000. Venturi Wealth Management LLC grew its holdings in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock valued at $29,000 after buying an additional 316 shares during the last quarter. BankPlus Trust Department acquired a new position in Fifth Third Bancorp during the fourth quarter valued at $29,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $33,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the business's 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 transaction, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was 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 corporate insiders.

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Fifth Third Bancorp Stock Down 2.1 %

FITB stock traded down $0.84 during midday trading on Thursday, hitting $39.61. The stock had a trading volume of 2,520,881 shares, compared to its average volume of 4,634,804. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week high of $49.07. The firm has a market cap of $26.36 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The business has a 50-day moving average of $43.36 and a two-hundred day moving average of $43.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 47.13%.

Analyst Ratings Changes

Several analysts recently issued reports on FITB shares. DA Davidson upped 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. Piper Sandler reissued an "overweight" rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. StockNews.com cut Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Finally, Truist Financial increased 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. One investment 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $47.31.

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.