Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co raised its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 645,145 shares of the financial services provider's stock after purchasing an additional 30,483 shares during the period. CANADA LIFE ASSURANCE Co owned 0.10% of Fifth Third Bancorp worth $27,265,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in FITB. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in Fifth Third Bancorp in the fourth quarter worth $28,000. BankPlus Trust Department purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at $29,000. Midwest Capital Advisors LLC bought a new position in Fifth Third Bancorp during the fourth quarter valued at $33,000. Finally, Y.D. More Investments Ltd grew its stake in shares of Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock worth $35,000 after buying an additional 449 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp 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 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. This represents a 6.57 % decrease in their ownership of the stock. The sale 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 company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares of the company's stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FITB shares. Morgan Stanley lowered their price target on shares of 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. DA Davidson dropped their target price on Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Monday. Truist Financial decreased their price target on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Finally, Stephens reiterated an "equal weight" rating and set a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.24.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB traded up $0.70 during mid-day trading on Thursday, hitting $35.79. The stock had a trading volume of 3,563,614 shares, compared to its average volume of 4,477,589. The company has a 50 day moving average of $38.60 and a two-hundred day moving average of $42.50. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month 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 firm has a market cap of $23.91 billion, a PE ratio of 11.40, a PEG ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. Research analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.37 per share. The ex-dividend date was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 4.14%. Fifth Third Bancorp's dividend payout ratio is presently 46.98%.

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.