Mitsubishi UFJ Trust & Banking Corp Cuts Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,362 shares of the financial services provider's stock after selling 11,365 shares during the quarter. 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.

A number of other institutional investors also recently modified their holdings of FITB. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $25,000. Sierra Ocean LLC bought a new stake in Fifth Third Bancorp in the 4th quarter valued at about $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $29,000. Midwest Capital Advisors LLC bought a new position in Fifth Third Bancorp in the fourth quarter worth approximately $33,000. Finally, Y.D. More Investments Ltd increased its holdings in shares of Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 449 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Stock Up 0.8 %

Shares of NASDAQ FITB traded up $0.32 during mid-day trading on Wednesday, hitting $39.25. 757,450 shares of the stock traded hands, compared to its average volume of 4,753,482. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $26.23 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.42 and a beta of 1.21. The stock has a fifty day moving average price of $41.96 and a 200-day moving average price of $43.49. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.77%. Fifth Third Bancorp's dividend payout ratio is presently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company's 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 completion of the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction 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 transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Piper Sandler restated an "overweight" rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Stephens restated an "equal weight" rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. DA Davidson boosted their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $47.50.

About Fifth Third Bancorp

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.