Oxford Asset Management LLP Acquires Shares of 16,536 Fifth Third Bancorp (NASDAQ:FITB)

Oxford Asset Management LLP bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,536 shares of the financial services provider's stock, valued at approximately $699,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC bought a new position in Fifth Third Bancorp during the 4th quarter valued at $951,000. Virtus ETF Advisers LLC raised its stake in Fifth Third Bancorp by 24.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 26,121 shares of the financial services provider's stock valued at $1,104,000 after buying an additional 5,175 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Fifth Third Bancorp by 8.8% during the 4th quarter. Integrated Wealth Concepts LLC now owns 20,961 shares of the financial services provider's stock valued at $886,000 after acquiring an additional 1,697 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Fifth Third Bancorp by 17.8% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 95,963 shares of the financial services provider's stock worth $4,057,000 after purchasing an additional 14,495 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in Fifth Third Bancorp by 24.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 561,497 shares of the financial services provider's stock valued at $23,740,000 after purchasing an additional 108,500 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $35.28 on Friday. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The company has a market capitalization of $23.57 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock's fifty day simple moving average is $38.25 and its 200-day simple moving average is $42.41.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same quarter in the prior year, the business earned $0.70 EPS. On average, sell-side analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.20%. Fifth Third Bancorp's payout ratio is 46.98%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FITB shares. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective on the stock in a research note on Monday, April 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Morgan Stanley cut their price objective on shares of 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. Keefe, Bruyette & Woods reduced their target price on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating for the company in a research note on Monday, April 21st. Finally, Piper Sandler restated an "overweight" rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Fifth Third Bancorp currently has an average rating of "Moderate Buy" and an average price target of $46.24.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the business'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 sale, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 currently owned by company insiders.

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.

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