Fifth Third Bancorp (NASDAQ:FITB) Holdings Increased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. grew its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 97,492 shares of the financial services provider's stock after acquiring an additional 8,963 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Fifth Third Bancorp were worth $4,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $25,000. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $28,000. BankPlus Trust Department purchased a new position in Fifth Third Bancorp in the 4th quarter worth approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp in the third quarter valued at approximately $36,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB traded up $0.05 during trading on Friday, hitting $39.48. 21,004,583 shares of the company traded hands, compared to its average volume of 4,245,725. The stock has a market capitalization of $26.38 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The business's fifty day moving average is $42.53 and its 200-day moving average is $43.56.

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Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is presently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 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. 0.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FITB has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Stephens restated an "equal weight" rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. DA Davidson boosted their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Barclays raised their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods upped their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $47.36.

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.