Bank of New York Mellon Corp Has $187.94 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Bank of New York Mellon Corp cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,445,046 shares of the financial services provider's stock after selling 113,235 shares during the quarter. Bank of New York Mellon Corp owned about 0.66% of Fifth Third Bancorp worth $187,937,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of FITB. Boston Common Asset Management LLC increased its stake in Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock valued at $13,079,000 after acquiring an additional 34,203 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Fifth Third Bancorp by 15.1% during the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider's stock worth $3,078,000 after purchasing an additional 9,444 shares in the last quarter. Lockheed Martin Investment Management Co. bought a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $9,878,000. Smith Group Asset Management LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $423,000. Finally, Icon Wealth Advisors LLC bought a new position in Fifth Third Bancorp in the third quarter worth $541,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Trading Down 1.1 %

NASDAQ:FITB traded down $0.47 during trading hours on Monday, hitting $43.00. 3,353,728 shares of the stock were exchanged, compared to its average volume of 4,485,229. The company has a market capitalization of $28.62 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The company's 50 day moving average is $43.43 and its two-hundred day moving average is $43.80. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07.

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Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.44%. Fifth Third Bancorp's payout ratio is 47.13%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp 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 owns 130,856 shares of the company's stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares of the company's stock, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FITB shares. Royal Bank of Canada restated an "outperform" rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Piper Sandler reissued an "overweight" rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Barclays lifted 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. StockNews.com downgraded Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Finally, Citigroup upped their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Hold" and a consensus price target of $46.75.

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.