Jupiter Asset Management Ltd. Buys New Shares in Fifth Third Bancorp (NASDAQ:FITB)

Jupiter Asset Management Ltd. acquired a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,265,560 shares of the financial services provider's stock, valued at approximately $53,508,000. Jupiter Asset Management Ltd. owned approximately 0.19% of Fifth Third Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. Charles Schwab Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock valued at $912,692,000 after acquiring an additional 812,385 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of 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 valued at $242,713,000 after acquiring an additional 409,292 shares during the last quarter. Davis Selected Advisers lifted its position in shares of Fifth Third Bancorp by 0.4% during the 4th quarter. Davis Selected Advisers now owns 2,444,176 shares of the financial services provider's stock valued at $103,340,000 after acquiring an additional 8,640 shares during the last quarter. Smead Capital Management Inc. lifted its position in shares of Fifth Third Bancorp by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider's stock valued at $95,278,000 after acquiring an additional 75,024 shares during the last quarter. Finally, PL Capital Advisors LLC lifted its position in shares of 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 acquiring an additional 1,816,320 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FITB shares. DA Davidson increased their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Piper Sandler restated an "overweight" rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Morgan Stanley reduced their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday. Royal Bank of Canada restated an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, Truist Financial increased their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $47.36.

Insiders Place Their Bets

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm's stock in a transaction dated 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 of the company's stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Fifth Third Bancorp Stock Up 2.9 %

Fifth Third Bancorp stock traded up $1.07 during mid-day trading on Friday, hitting $38.55. 4,398,044 shares of the company's stock were exchanged, compared to its average volume of 4,787,238. 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 stock has a market cap of $25.76 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07. The stock has a 50 day moving average of $42.84 and a two-hundred day moving average of $43.68.

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.