Hussman Strategic Advisors Inc. Invests $2.22 Million in Fifth Third Bancorp (NASDAQ:FITB)

Hussman Strategic Advisors Inc. purchased a new stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 52,500 shares of the financial services provider's stock, valued at approximately $2,220,000.

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

Fifth Third Bancorp Trading Down 1.7 %

NASDAQ:FITB traded down $0.73 during trading hours on Friday, reaching $42.88. 4,726,728 shares of the stock were exchanged, compared to its average volume of 4,598,348. Fifth Third Bancorp has a twelve month low of $33.03 and a twelve month 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 50-day moving average of $43.55 and a two-hundred day moving average of $43.58. The company has a market capitalization of $28.75 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is 47.13%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods boosted their price target on shares of 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. Truist Financial upped their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. DA Davidson boosted their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Finally, StockNews.com downgraded Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. 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 stock. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Hold" and an average target price of $46.75.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.