Dana Investment Advisors Inc. Lowers Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Dana Investment Advisors Inc. decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 10.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,447 shares of the financial services provider's stock after selling 8,057 shares during the quarter. Dana Investment Advisors Inc.'s holdings in Fifth Third Bancorp were worth $2,852,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. PL Capital Advisors LLC grew its position in Fifth Third Bancorp by 4,128.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider's stock valued at $78,654,000 after buying an additional 1,816,320 shares during the period. Charles Schwab Investment Management Inc. grew its position in Fifth Third Bancorp by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock valued at $912,692,000 after buying an additional 812,385 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Fifth Third Bancorp during the third quarter valued at $28,490,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Fifth Third Bancorp by 76.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider's stock valued at $57,005,000 after purchasing an additional 575,449 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock valued at $242,713,000 after purchasing an additional 409,292 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Remove Ads

Fifth Third Bancorp Stock Up 0.5 %

Fifth Third Bancorp stock traded up $0.20 during mid-day trading on Friday, reaching $40.06. The stock had a trading volume of 5,773,180 shares, compared to its average volume of 4,718,686. 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 has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The stock's 50-day simple moving average is $43.23 and its 200-day simple moving average is $43.77. The firm has a market capitalization of $26.66 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Dividend Announcement

The company 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%.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of recent analyst reports. Citigroup lifted their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Stephens reiterated an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday. Truist Financial boosted their price objective 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. Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Finally, Barclays increased their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $47.31.

Insider Activity

In other news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction on Wednesday, February 19th. The stock was 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 in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the business'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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

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.