Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Prudential PLC

Prudential PLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 856.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,040 shares of the financial services provider's stock after buying an additional 121,811 shares during the quarter. Prudential PLC's holdings in Fifth Third Bancorp were worth $5,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FITB. Norges Bank acquired a new stake in Fifth Third Bancorp during the fourth quarter worth about $371,836,000. PL Capital Advisors LLC increased its position in Fifth Third Bancorp by 4,128.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider's stock worth $78,654,000 after purchasing an additional 1,816,320 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $53,508,000. Raymond James Financial Inc. acquired a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $38,971,000. Finally, Boston Partners lifted its position in Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock valued at $597,692,000 after buying an additional 823,803 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Insider Activity at Fifth Third Bancorp

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

Fifth Third Bancorp Stock Up 0.0 %

Shares of FITB stock traded up $0.01 during trading hours on Friday, hitting $33.84. 5,836,563 shares of the company were exchanged, compared to its average volume of 4,466,293. The stock has a market capitalization of $22.61 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The business's 50-day simple moving average is $40.10 and its two-hundred day simple moving average is $42.94. 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.37%. Fifth Third Bancorp's dividend payout ratio (DPR) is 47.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FITB. Citigroup cut their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Morgan Stanley dropped their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. 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 report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.