O Shaughnessy Asset Management LLC Purchases 9,850 Shares of Fifth Third Bancorp (NASDAQ:FITB)

O Shaughnessy Asset Management LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 8.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,290 shares of the financial services provider's stock after buying an additional 9,850 shares during the period. O Shaughnessy Asset Management LLC's holdings in Fifth Third Bancorp were worth $5,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FITB. Boston Common Asset Management LLC lifted its position in Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock valued at $13,079,000 after acquiring an additional 34,203 shares in the last quarter. Boston Partners raised its stake in shares of Fifth Third Bancorp by 6.2% in the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after purchasing an additional 823,803 shares during the last quarter. AMJ Financial Wealth Management raised its stake in shares of Fifth Third Bancorp by 4.2% in the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider's stock worth $9,843,000 after purchasing an additional 9,401 shares during the last quarter. Banco Santander S.A. bought a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $357,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $9,878,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB traded up $0.32 during trading on Monday, reaching $34.07. 8,600,394 shares of the stock traded hands, compared to its average volume of 4,412,492. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $22.76 billion, a P/E ratio of 10.85, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07. The company has a 50-day moving average of $41.28 and a 200-day moving average of $43.30.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the company'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 directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on FITB. Barclays increased their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price for the company in a report on Monday. Piper Sandler restated an "overweight" rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Truist Financial boosted their target price 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. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $48.12.

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.