Johnson Investment Counsel Inc. Acquires 8,552 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Johnson Investment Counsel Inc. lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 146,140 shares of the financial services provider's stock after purchasing an additional 8,552 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Fifth Third Bancorp were worth $6,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $25,000. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $28,000. Venturi Wealth Management LLC increased its stake in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 316 shares during the period. BankPlus Trust Department bought a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $29,000. Finally, Midwest Capital Advisors LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter worth approximately $33,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FITB. DA Davidson lifted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Morgan Stanley dropped their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday. Piper Sandler restated an "overweight" rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Stephens reaffirmed an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Finally, Truist Financial raised their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $47.36.

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Fifth Third Bancorp Stock Up 2.9 %

NASDAQ FITB traded up $1.07 during trading on Friday, reaching $38.55. 4,398,044 shares of the company's stock were exchanged, compared to its average volume of 4,787,238. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The firm has a market capitalization of $25.76 billion, a PE ratio of 12.28, a P/E/G ratio of 1.42 and a beta of 1.21. 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 company's fifty day simple moving average is $42.91 and its 200-day simple moving average is $43.69.

Insider Activity

In other news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction 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 $5,698,778.80. The trade was a 14.22 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp 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 sale, the chief operating officer now owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

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.