Dynamic Technology Lab Private Ltd Makes New Investment in Fifth Third Bancorp (NASDAQ:FITB)

Dynamic Technology Lab Private Ltd bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 26,940 shares of the financial services provider's stock, valued at approximately $1,139,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Eads & Heald Wealth Management grew its holdings in Fifth Third Bancorp by 3.0% during the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider's stock worth $347,000 after acquiring an additional 235 shares during the period. Valley National Advisers Inc. boosted 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 buying an additional 236 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Fifth Third Bancorp by 4.7% in the 4th 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 in the last quarter. Brooklyn Investment Group increased its position in shares of Fifth Third Bancorp by 9.1% in the fourth quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider's stock valued at $131,000 after buying an additional 257 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Fifth Third Bancorp by 16.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider's stock valued at $79,000 after acquiring an additional 261 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 1.8 %

FITB stock traded down $0.62 during mid-day trading on Friday, reaching $33.21. The company had a trading volume of 1,733,412 shares, compared to its average volume of 4,453,699. The firm has a fifty day simple moving average of $40.30 and a 200 day simple moving average of $43.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market capitalization of $22.19 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.46%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the company'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 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 represents a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm'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 transaction of $945,035.00. Following 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 disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

FITB has been the subject of several recent research reports. Piper Sandler reissued an "overweight" rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Truist Financial boosted their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Baird R W raised shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday. Citigroup dropped their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, DA Davidson lifted their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $48.12.

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.