Mitsubishi UFJ Trust & Banking Corp Sells 11,365 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,362 shares of the financial services provider's stock after selling 11,365 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Fifth Third Bancorp were worth $13,164,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. raised its position in Fifth Third Bancorp by 3.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,788 shares of the financial services provider's stock valued at $963,000 after purchasing an additional 688 shares in the last quarter. TIAA Trust National Association raised its holdings in shares of Fifth Third Bancorp by 4.7% during the 4th quarter. TIAA Trust National Association now owns 7,974 shares of the financial services provider's stock valued at $337,000 after buying an additional 361 shares in the last quarter. Stevens Capital Management LP bought a new stake in Fifth Third Bancorp in the 4th quarter worth approximately $373,000. LPL Financial LLC grew its position in Fifth Third Bancorp by 16.4% during the fourth quarter. LPL Financial LLC now owns 519,339 shares of the financial services provider's stock valued at $21,958,000 after acquiring an additional 73,245 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth approximately $9,768,000. Institutional investors own 83.79% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on FITB shares. Barclays upped their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Wells Fargo & Company dropped their target price on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Friday. Stephens restated an "equal weight" rating and set a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Keefe, Bruyette & Woods lifted their price target 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. Finally, Truist Financial boosted 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued 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 $46.64.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the business'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 transaction of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares of the company's stock, valued at $5,698,778.80. This trade represents a 14.22 % 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 Performance

Shares of FITB stock traded up $0.39 during trading hours on Monday, reaching $39.20. The company had a trading volume of 4,496,007 shares, compared to its average volume of 4,355,484. The firm has a market cap of $26.19 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The business has a fifty day moving average price of $42.18 and a 200-day moving average price of $43.53. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.78%. Fifth Third Bancorp's payout ratio is 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.