Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by LSV Asset Management

LSV Asset Management cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,476,300 shares of the financial services provider's stock after selling 753,900 shares during the quarter. LSV Asset Management owned 0.37% of Fifth Third Bancorp worth $104,698,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Eads & Heald Wealth Management lifted its stake in shares of Fifth Third Bancorp by 3.0% in the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider's stock valued at $347,000 after purchasing an additional 235 shares during the last quarter. Valley National Advisers Inc. grew its position in shares of Fifth Third Bancorp by 3.6% during the 4th quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider's stock worth $285,000 after buying an additional 236 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Fifth Third Bancorp by 4.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider's stock worth $231,000 after buying an additional 246 shares during the period. Brooklyn Investment Group increased its holdings in shares of Fifth Third Bancorp by 9.1% in the fourth quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider's stock worth $131,000 after acquiring an additional 257 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in Fifth Third Bancorp by 16.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider's stock worth $79,000 after purchasing an additional 261 shares during the period. Institutional investors and hedge funds own 83.79% of the company's stock.

Insider Activity

In other Fifth Third Bancorp news, 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 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 approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction 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 represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FITB shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Truist Financial raised their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. DA Davidson boosted their target price 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. Wells Fargo & Company cut their price target on Fifth Third Bancorp from $54.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Finally, JPMorgan Chase & Co. cut their price objective on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.12.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB traded down $0.19 during midday trading on Wednesday, hitting $34.88. The stock had a trading volume of 1,239,832 shares, compared to its average volume of 4,466,282. Fifth Third Bancorp has a 1 year low of $31.96 and a 1 year high of $49.07. The company has a market capitalization of $23.30 billion, a PE ratio of 11.11, a P/E/G ratio of 1.42 and a beta of 0.99. 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 stock has a 50 day simple moving average of $39.73 and a 200-day simple moving average of $42.83.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.24%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 47.13%.

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.