Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 56.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,264 shares of the financial services provider's stock after purchasing an additional 11,226 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Fifth Third Bancorp were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. grew its stake in shares of Fifth Third Bancorp by 242.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 19,592 shares of the financial services provider's stock valued at $830,000 after buying an additional 13,878 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Fifth Third Bancorp by 54.7% during the fourth quarter. Venturi Wealth Management LLC now owns 1,035 shares of the financial services provider's stock valued at $44,000 after buying an additional 366 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Fifth Third Bancorp by 75.3% during the fourth quarter. D.A. Davidson & CO. now owns 37,559 shares of the financial services provider's stock valued at $1,588,000 after buying an additional 16,136 shares during the last quarter. Truist Financial Corp grew its stake in shares of Fifth Third Bancorp by 1.4% during the fourth quarter. Truist Financial Corp now owns 322,420 shares of the financial services provider's stock valued at $13,632,000 after buying an additional 4,326 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Fifth Third Bancorp by 1.8% during the fourth quarter. CIBC Asset Management Inc now owns 117,677 shares of the financial services provider's stock valued at $4,975,000 after buying an additional 2,052 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FITB has been the topic of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. DA Davidson increased 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. Citigroup increased their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Finally, StockNews.com cut Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of "Hold" and a consensus target price of $46.75.

Insider Buying and Selling

In related news, EVP Kevin P. Lavender sold 21,700 shares of the firm'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 owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value 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 trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Down 1.7 %

Shares of FITB traded down $0.73 during midday trading on Friday, hitting $42.88. 4,726,728 shares of the company's stock traded hands, compared to its average volume of 4,598,348. The stock has a market capitalization of $28.75 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. 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 firm's fifty day moving average is $43.55 and its 200-day moving average is $43.58. Fifth Third Bancorp has a 1 year low of $33.03 and a 1 year high of $49.07.

Fifth Third Bancorp Announces Dividend

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

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.