Clearbridge Investments LLC Has $15.59 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Clearbridge Investments LLC trimmed its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 19.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 368,694 shares of the financial services provider's stock after selling 91,537 shares during the quarter. Clearbridge Investments LLC owned about 0.05% of Fifth Third Bancorp worth $15,588,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

FITB has been the subject of a number of research analyst reports. Piper Sandler reissued an "overweight" rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. JPMorgan Chase & Co. reduced their target price on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday. Stephens reaffirmed an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Finally, Truist Financial increased their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.12.

Insider Activity

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred 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 owns 244,487 shares in the company, 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. 0.53% of the stock is owned by insiders.

Fifth Third Bancorp Stock Up 0.9 %

NASDAQ:FITB traded up $0.32 during mid-day trading on Monday, reaching $34.07. The stock had a trading volume of 8,600,394 shares, compared to its average volume of 4,412,492. The stock has a market cap of $22.76 billion, a P/E ratio of 10.85, a PEG ratio of 1.42 and a beta of 0.99. The business's 50 day moving average is $41.28 and its 200 day moving average is $43.30. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.34%. Fifth Third Bancorp's dividend payout ratio (DPR) is 47.13%.

Fifth Third Bancorp Company 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.