Fifth Third Bancorp (NASDAQ:FITB) Position Increased by HighTower Advisors LLC

HighTower Advisors LLC grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,011 shares of the financial services provider's stock after buying an additional 9,195 shares during the quarter. HighTower Advisors LLC's holdings in Fifth Third Bancorp were worth $6,554,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. PL Capital Advisors LLC lifted its position in shares of Fifth Third Bancorp by 4,128.0% during 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. Raymond James Financial Inc. acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth $38,971,000. Charles Schwab Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 3.9% during the fourth 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. Zurich Insurance Group Ltd FI acquired a new position in shares of Fifth Third Bancorp during the third quarter worth $28,490,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Fifth Third Bancorp by 76.2% during the third 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 purchasing an additional 575,449 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the 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 in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 244,487 shares of the company's stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock traded up $0.05 during trading on Friday, hitting $39.48. 21,004,583 shares of the stock were exchanged, compared to its average volume of 4,245,725. The stock's fifty day moving average is $42.53 and its 200 day moving average is $43.56. The stock has a market cap of $26.38 billion, a PE ratio of 12.57, a P/E/G ratio of 1.42 and a beta of 1.21. 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 has a 12 month low of $33.82 and a 12 month high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.75%. Fifth Third Bancorp's dividend payout ratio is currently 47.13%.

Analysts Set New Price Targets

FITB has been the topic of several recent analyst reports. Stephens reaffirmed an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Morgan Stanley cut their price target on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Finally, Barclays upped their price target 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of "Hold" and an average price target of $47.36.

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.