Mesirow Financial Investment Management Inc. Decreases Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Mesirow Financial Investment Management Inc. reduced its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 586,337 shares of the financial services provider's stock after selling 40,637 shares during the period. Mesirow Financial Investment Management Inc. owned approximately 0.09% of Fifth Third Bancorp worth $24,790,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in FITB. PL Capital Advisors LLC boosted 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 worth $78,654,000 after purchasing an additional 1,816,320 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $38,971,000. Charles Schwab Investment Management Inc. raised its stake 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 worth $912,692,000 after buying an additional 812,385 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Fifth Third Bancorp during the 3rd quarter worth $28,490,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Fifth Third Bancorp by 76.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider's stock worth $57,005,000 after buying an additional 575,449 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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Fifth Third Bancorp Trading Up 0.5 %

FITB traded up $0.20 during midday trading on Friday, hitting $40.06. The company's stock had a trading volume of 5,773,180 shares, compared to its average volume of 4,718,686. 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 has a market cap of $26.66 billion, a P/E ratio of 12.76, a PEG ratio of 1.42 and a beta of 1.21. The firm has a 50-day moving average price of $43.23 and a two-hundred day moving average price of $43.79. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week high of $49.07.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares of the company's stock, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FITB. 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. Truist Financial lifted their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Citigroup lifted their price target 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. Stephens reaffirmed an "equal weight" rating and set a $51.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday. Finally, Wells Fargo & Company lifted their price target 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $47.31.

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.