Jones Financial Companies Lllp Acquires 15,877 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Jones Financial Companies Lllp increased its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 131.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,934 shares of the financial services provider's stock after buying an additional 15,877 shares during the period. Jones Financial Companies Lllp's holdings in Fifth Third Bancorp were worth $1,181,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $25,000. Sierra Ocean LLC bought a new stake in Fifth Third Bancorp during the fourth quarter valued at $28,000. Venturi Wealth Management LLC grew its position in Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after buying an additional 316 shares in the last quarter. BankPlus Trust Department bought a new position in Fifth Third Bancorp in the 4th quarter worth about $29,000. Finally, Midwest Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $33,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Truist Financial upped 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 report on Wednesday, January 22nd. Stephens reaffirmed an "equal weight" rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Citigroup increased their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. 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 note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price objective 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. One 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, the company currently has a consensus rating of "Hold" and an average target price of $47.31.

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Fifth Third Bancorp Stock Down 2.7 %

Fifth Third Bancorp stock traded down $1.05 on Tuesday, hitting $38.23. 5,530,151 shares of the stock traded hands, compared to its average volume of 4,784,993. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07. The firm has a market cap of $25.54 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The business's fifty day simple moving average is $43.16 and its 200 day simple moving average is $43.80.

Insider Buying and Selling

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 transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares of the company's stock, 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. 0.50% of the stock is owned by company 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.