Trillium Asset Management LLC Raises Stake in Fifth Third Bancorp (NASDAQ:FITB)

Trillium Asset Management LLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 11.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 445,927 shares of the financial services provider's stock after purchasing an additional 45,722 shares during the quarter. Trillium Asset Management LLC owned about 0.07% of Fifth Third Bancorp worth $18,854,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $28,000. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. Midwest Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $33,000. Finally, Y.D. More Investments Ltd boosted its holdings in shares of Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 449 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO James C. Leonard sold 17,200 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were 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 owns 244,487 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now directly owns 130,856 shares of the company's stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FITB shares. Morgan Stanley decreased their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. Stephens reaffirmed an "equal weight" rating and set a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. DA Davidson increased their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Finally, Truist Financial increased their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of "Hold" and an average target price of $47.36.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded up $0.05 during mid-day trading on Friday, reaching $39.48. The stock had a trading volume of 21,004,583 shares, compared to its average volume of 4,245,109. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07. The company has a market cap of $26.38 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The business has a 50-day simple moving average of $42.53 and a 200 day simple moving average of $43.57. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Announces Dividend

The company 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is currently 47.13%.

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.