Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. increased its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,104,159 shares of the financial services provider's stock after buying an additional 44,518 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.16% of Fifth Third Bancorp worth $46,663,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in FITB. Norges Bank bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $371,836,000. PL Capital Advisors LLC raised its holdings in Fifth Third Bancorp by 4,128.0% in the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider's stock worth $78,654,000 after purchasing an additional 1,816,320 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at approximately $53,508,000. Raymond James Financial Inc. acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $38,971,000. Finally, Boston Partners boosted its holdings in Fifth Third Bancorp by 6.2% in the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after acquiring an additional 823,803 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 0.7 %

NASDAQ FITB traded down $0.25 during trading on Thursday, reaching $34.15. 11,341,294 shares of the company's stock were exchanged, compared to its average volume of 4,505,200. The company has a 50 day moving average price of $39.54 and a two-hundred day moving average price of $42.77. The stock has a market cap of $22.82 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.01. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the company posted $0.70 earnings per share. On average, equities research analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 4.33%. Fifth Third Bancorp's dividend payout ratio is presently 47.13%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares of the company's stock, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were 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 of the company's stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FITB shares. Stephens reiterated an "equal weight" rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. DA Davidson boosted their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Citigroup dropped their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Truist Financial boosted their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company reduced their price objective on Fifth Third Bancorp from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, 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.