Boston Partners Acquires 823,803 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Boston Partners boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,135,430 shares of the financial services provider's stock after buying an additional 823,803 shares during the period. Boston Partners owned approximately 2.11% of Fifth Third Bancorp worth $597,692,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth about $25,000. Sierra Ocean LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth about $28,000. BankPlus Trust Department bought a new stake in Fifth Third Bancorp during the fourth quarter worth about $29,000. Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth about $33,000. Finally, Y.D. More Investments Ltd lifted 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 worth $35,000 after purchasing an additional 449 shares during the last quarter. Institutional investors own 83.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FITB. Stephens reiterated an "equal weight" rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Barclays lifted their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. 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 report on Thursday, January 23rd. Truist Financial lifted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $47.36.

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Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the business's stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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. This represents a 14.22 % 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 Stock Up 0.1 %

Shares of FITB stock traded up $0.05 during midday trading on Friday, reaching $39.48. 21,004,583 shares of the stock were exchanged, compared to its average volume of 4,245,725. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07. The company's 50 day moving average is $42.53 and its two-hundred day moving average is $43.56. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market cap of $26.38 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Announces Dividend

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

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.