Neville Rodie & Shaw Inc. Buys Shares of 12,030 Fifth Third Bancorp (NASDAQ:FITB)

Neville Rodie & Shaw Inc. bought a new stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,030 shares of the financial services provider's stock, valued at approximately $509,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of FITB. Charles Schwab Investment Management Inc. grew its stake in Fifth Third Bancorp by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider's stock valued at $889,978,000 after acquiring an additional 732,651 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Fifth Third Bancorp by 3.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider's stock worth $356,031,000 after purchasing an additional 281,494 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Fifth Third Bancorp by 4.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider's stock valued at $371,837,000 after buying an additional 399,827 shares in the last quarter. Franklin Resources Inc. grew its holdings in Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock valued at $242,713,000 after buying an additional 409,292 shares during the last quarter. Finally, Smead Capital Management Inc. increased its position in Fifth Third Bancorp by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider's stock worth $95,278,000 after buying an additional 75,024 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the transaction, the executive vice president now owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays increased their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Monday. StockNews.com cut shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. Citigroup boosted their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Evercore ISI raised their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler lifted their target price on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $45.62.

Fifth Third Bancorp Trading Up 1.3 %

FITB stock traded up $0.55 during midday trading on Monday, reaching $42.94. 5,319,657 shares of the company's stock traded hands, compared to its average volume of 4,350,752. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07. The business has a 50-day moving average price of $45.34 and a two-hundred day moving average price of $42.44. The company has a market capitalization of $28.79 billion, a P/E ratio of 14.27, a PEG ratio of 2.19 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. During the same period last year, the company posted $0.92 earnings per share. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts forecast that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. Fifth Third Bancorp's payout ratio is currently 49.17%.

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.