Prudential Financial Inc. Sells 145,997 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Prudential Financial Inc. decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 28.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 370,417 shares of the financial services provider's stock after selling 145,997 shares during the quarter. Prudential Financial Inc. owned about 0.06% of Fifth Third Bancorp worth $15,661,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PL Capital Advisors LLC increased its stake in Fifth Third Bancorp by 4,128.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider's stock valued at $78,654,000 after purchasing an additional 1,816,320 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in Fifth Third Bancorp in the 4th quarter worth approximately $53,508,000. Raymond James Financial Inc. bought a new position in Fifth Third Bancorp in the 4th quarter valued at approximately $38,971,000. Boston Partners boosted its stake in Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock valued at $597,692,000 after purchasing an additional 823,803 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Fifth Third Bancorp by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock worth $912,692,000 after purchasing an additional 812,385 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

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Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was 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 directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

FITB has been the topic of several recent analyst reports. 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 research report on Monday, March 24th. 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. Barclays boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Keefe, Bruyette & Woods raised their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of "Hold" and a consensus price target of $46.64.

Fifth Third Bancorp Trading Up 1.6 %

Shares of Fifth Third Bancorp stock traded up $0.63 during trading on Monday, hitting $39.07. The stock had a trading volume of 1,448,279 shares, compared to its average volume of 4,343,892. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The stock has a market cap of $26.10 billion, a PE ratio of 12.45, a PEG ratio of 1.42 and a beta of 1.21. The firm's fifty day simple moving average is $42.18 and its 200-day simple moving average is $43.53.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.37 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.79%. Fifth Third Bancorp's payout ratio is 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.