Isthmus Partners LLC Reduces Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Isthmus Partners LLC lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 316,262 shares of the financial services provider's stock after selling 6,829 shares during the period. Fifth Third Bancorp accounts for about 1.6% of Isthmus Partners LLC's investment portfolio, making the stock its 20th biggest holding. Isthmus Partners LLC's holdings in Fifth Third Bancorp were worth $13,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of FITB. Charles Schwab Investment Management Inc. boosted its stake in Fifth Third Bancorp by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock valued at $912,692,000 after acquiring an additional 812,385 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Fifth Third Bancorp by 8.1% in the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock worth $242,713,000 after purchasing an additional 409,292 shares in the last quarter. Davis Selected Advisers grew its stake in Fifth Third Bancorp by 0.4% during the 4th quarter. Davis Selected Advisers now owns 2,444,176 shares of the financial services provider's stock worth $103,340,000 after buying an additional 8,640 shares during the last quarter. Smead Capital Management Inc. increased its position in Fifth Third Bancorp by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider's stock valued at $95,278,000 after buying an additional 75,024 shares in the last quarter. Finally, PL Capital Advisors LLC raised its stake 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 valued at $78,654,000 after buying an additional 1,816,320 shares during the last quarter. Institutional investors own 83.79% of the company's stock.

Remove Ads

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, 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 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 approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded down $1.05 during trading hours on Thursday, hitting $37.48. 5,279,178 shares of the company's stock were exchanged, compared to its average volume of 4,795,348. The firm has a 50 day moving average of $43.01 and a two-hundred day moving average of $43.73. 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 cap of $25.04 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FITB shares. Morgan Stanley dropped their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a research note on Thursday. Piper Sandler restated an "overweight" rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Truist Financial lifted their price objective 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. Keefe, Bruyette & Woods upped their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Citigroup raised their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Hold" and an average price target of $47.36.

Fifth Third Bancorp Company 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.