Cibc World Markets Corp Has $4.49 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Cibc World Markets Corp reduced its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 19.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,067 shares of the financial services provider's stock after selling 25,487 shares during the quarter. Cibc World Markets Corp's holdings in Fifth Third Bancorp were worth $4,485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FITB. OneDigital Investment Advisors LLC grew its position in Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider's stock valued at $878,000 after purchasing an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. grew its holdings in shares of Fifth Third Bancorp by 7.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider's stock valued at $143,000 after acquiring an additional 232 shares in the last quarter. Eads & Heald Wealth Management grew its holdings in shares of Fifth Third Bancorp by 3.0% in the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider's stock valued at $347,000 after acquiring an additional 235 shares in the last quarter. Valley National Advisers Inc. raised its holdings in Fifth Third Bancorp by 3.6% during the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider's stock worth $285,000 after acquiring an additional 236 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in Fifth Third Bancorp by 4.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 246 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

FITB has been the topic of several recent analyst reports. Piper Sandler reaffirmed an "overweight" rating and set 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 upped their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. 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 report on Thursday, January 23rd. Stephens restated an "equal weight" rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Finally, Truist Financial raised their target price on shares of 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 given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of "Hold" and an average target price of $46.86.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded up $0.77 on Monday, reaching $40.25. The stock had a trading volume of 3,124,574 shares, compared to its average volume of 4,240,623. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $26.89 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The firm has a fifty day moving average of $42.53 and a two-hundred day moving average of $43.58.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is 47.13%.

Insiders Place Their Bets

In other news, EVP Kevin P. Lavender sold 21,700 shares of the 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 directly owns 130,856 shares of the company's stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the business'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 directly owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

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.