National Bank of Canada FI Decreases Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

National Bank of Canada FI lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 49.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 245,714 shares of the financial services provider's stock after selling 236,740 shares during the period. National Bank of Canada FI's holdings in Fifth Third Bancorp were worth $10,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. grew its stake in shares of Fifth Third Bancorp by 139.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 11,190 shares of the financial services provider's stock worth $479,000 after purchasing an additional 6,515 shares during the period. IHT Wealth Management LLC grew its position in Fifth Third Bancorp by 57.7% during the third quarter. IHT Wealth Management LLC now owns 12,795 shares of the financial services provider's stock valued at $547,000 after buying an additional 4,683 shares during the period. Royal London Asset Management Ltd. increased its holdings in Fifth Third Bancorp by 2.6% in the third quarter. Royal London Asset Management Ltd. now owns 263,429 shares of the financial services provider's stock valued at $11,285,000 after buying an additional 6,725 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of Fifth Third Bancorp by 17.1% in the third quarter. Quantinno Capital Management LP now owns 75,257 shares of the financial services provider's stock worth $3,224,000 after acquiring an additional 10,991 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth about $1,337,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Down 5.9 %

Shares of Fifth Third Bancorp stock traded down $2.10 during trading hours on Thursday, reaching $33.72. 2,079,563 shares of the company were exchanged, compared to its average volume of 4,439,051. The stock's fifty day moving average is $40.50 and its 200 day moving average is $43.06. The firm has a market cap of $22.53 billion, a PE ratio of 10.78, a PEG ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.39%. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 47.13%.

Wall Street Analyst Weigh In

FITB has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Barclays lifted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Truist Financial increased their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Citigroup reduced their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Robert W. Baird raised shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective for the company in a report on Monday. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $48.12.

Insider Transactions at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the company'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 completion of the sale, the chief operating officer now directly owns 244,487 shares of the company's stock, 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 through the SEC website. 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 value of $945,035.00. Following the completion of the sale, the executive vice president now 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. Insiders own 0.53% of the company's stock.

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.