Alerus Financial NA Decreases Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Alerus Financial NA trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,293 shares of the financial services provider's stock after selling 11,032 shares during the quarter. Fifth Third Bancorp makes up about 0.8% of Alerus Financial NA's portfolio, making the stock its 23rd biggest holding. Alerus Financial NA's holdings in Fifth Third Bancorp were worth $9,821,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FITB. Transamerica Financial Advisors Inc. lifted its holdings in Fifth Third Bancorp by 7.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider's stock valued at $143,000 after purchasing an additional 232 shares in the last quarter. Eads & Heald Wealth Management raised its position in shares of Fifth Third Bancorp by 3.0% in the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider's stock valued at $347,000 after buying an additional 235 shares during the last quarter. Valley National Advisers Inc. lifted its stake in shares of Fifth Third Bancorp by 3.6% in the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider's stock worth $285,000 after buying an additional 236 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Fifth Third Bancorp by 4.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider's stock worth $231,000 after acquiring an additional 246 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake in Fifth Third Bancorp by 9.1% during the 4th quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 257 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other Fifth Third Bancorp news, 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 sale, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the executive vice president now 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. Insiders own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FITB shares. Piper Sandler restated an "overweight" rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Truist Financial raised their target price 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. Wells Fargo & Company lowered their price target on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday. DA Davidson raised their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Finally, Stephens reiterated an "equal weight" rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $46.64.

Fifth Third Bancorp Trading Down 0.3 %

NASDAQ:FITB traded down $0.13 on Tuesday, reaching $39.07. 1,301,648 shares of the company's stock were exchanged, compared to its average volume of 4,343,608. The firm has a market capitalization of $26.10 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week 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 has a fifty day moving average of $42.08 and a 200-day moving average of $43.52.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date 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.