Candriam S.C.A. Raises Stake in Fifth Third Bancorp (NASDAQ:FITB)

Candriam S.C.A. increased its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 603.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 565,162 shares of the financial services provider's stock after acquiring an additional 484,773 shares during the quarter. Candriam S.C.A. owned about 0.08% of Fifth Third Bancorp worth $23,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Boston Common Asset Management LLC lifted its stake in shares of Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock worth $13,079,000 after acquiring an additional 34,203 shares during the period. QRG Capital Management Inc. lifted its stake in Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider's stock valued at $3,078,000 after buying an additional 9,444 shares during the period. AMJ Financial Wealth Management lifted its stake in Fifth Third Bancorp by 4.2% in the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider's stock valued at $9,843,000 after buying an additional 9,401 shares during the period. Lockheed Martin Investment Management Co. acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $9,878,000. Finally, Smith Group Asset Management LLC acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $423,000. 83.79% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the company'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 transaction, the executive vice president now owns 130,856 shares of the company's stock, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Fifth Third Bancorp Stock Up 0.5 %

Fifth Third Bancorp stock traded up $0.20 during trading on Friday, hitting $40.06. 5,773,180 shares of the company were exchanged, compared to its average volume of 4,718,686. The business's 50 day moving average is $43.23 and its 200 day moving average is $43.77. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07. The company has a market capitalization of $26.66 billion, a P/E ratio of 12.76, a PEG 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid 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 3.69%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 47.13%.

Analysts Set New Price Targets

Several equities analysts have issued reports on FITB shares. Keefe, Bruyette & Woods boosted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Truist Financial upped their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of "Hold" and an average price target of $47.31.

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.