Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Cinctive Capital Management LP

Cinctive Capital Management LP boosted its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 191.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 256,186 shares of the financial services provider's stock after buying an additional 168,365 shares during the period. Cinctive Capital Management LP's holdings in Fifth Third Bancorp were worth $10,832,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bryce Point Capital LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $524,000. RFG Bristol Wealth Advisors LLC acquired a new stake in Fifth Third Bancorp during the 4th quarter worth about $611,000. Trexquant Investment LP purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $10,317,000. Headlands Technologies LLC acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $185,000. Finally, Geode Capital Management LLC boosted its stake in shares of Fifth Third Bancorp by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider's stock worth $715,219,000 after buying an additional 285,910 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday. Stephens reissued an "equal weight" rating and set a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Piper Sandler restated 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. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective for the company in a research report on Monday. Finally, Citigroup dropped their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $48.12.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were 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 approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was 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 approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB traded down $0.09 during midday trading on Monday, hitting $33.66. The company's stock had a trading volume of 3,795,877 shares, compared to its average volume of 4,393,939. The company has a market cap of $22.49 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 12-month low of $31.10 and a 12-month high of $49.07. The business's 50 day simple moving average is $41.50 and its 200 day simple moving average is $43.36. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is 47.13%.

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.