Transcend Capital Advisors LLC Has $549,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Transcend Capital Advisors LLC trimmed its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 32.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,989 shares of the financial services provider's stock after selling 6,289 shares during the period. Transcend Capital Advisors LLC's holdings in Fifth Third Bancorp were worth $549,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Fifth Third Bancorp by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider's stock worth $889,978,000 after purchasing an additional 732,651 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Fifth Third Bancorp in the third quarter valued at $28,490,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Fifth Third Bancorp by 76.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider's stock worth $57,005,000 after acquiring an additional 575,449 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Fifth Third Bancorp by 8.1% during the third 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 during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Fifth Third Bancorp during the third quarter valued at $12,895,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

Shares of FITB traded up $0.50 during trading hours on Monday, hitting $43.38. The stock had a trading volume of 2,129,637 shares, compared to its average volume of 4,525,521. The stock has a market capitalization of $29.09 billion, a price-to-earnings ratio of 13.81, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The company's fifty day moving average is $43.50 and its two-hundred day moving average is $43.67. Fifth Third Bancorp has a 52 week low of $33.03 and a 52 week high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 47.13%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods raised their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. 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 research report on Monday, January 6th. Finally, Truist Financial lifted their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, January 22nd. One 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 data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of "Hold" and a consensus price target of $46.75.

Insider Activity

In related news, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction 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 represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.