Riverbend Wealth Management LLC acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,160 shares of the financial services provider's stock, valued at approximately $599,000.
Other institutional investors and hedge funds have also modified their holdings of the company. PL Capital Advisors LLC boosted its position in Fifth Third Bancorp by 4,128.0% in 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. Raymond James Financial Inc. acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth approximately $38,971,000. Charles Schwab Investment Management Inc. lifted its position in shares of Fifth Third Bancorp by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock valued at $912,692,000 after buying an additional 812,385 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Fifth Third Bancorp in the 3rd quarter valued at $28,490,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Fifth Third Bancorp by 76.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider's stock worth $57,005,000 after acquiring an additional 575,449 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.
Fifth Third Bancorp Trading Down 2.7 %
FITB traded down $1.05 on Thursday, hitting $37.48. The company had a trading volume of 5,279,178 shares, compared to its average volume of 4,795,348. The company's fifty day moving average price is $42.91 and its 200 day moving average price is $43.69. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07. 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 firm has a market cap of $25.04 billion, a P/E ratio of 11.94, a PEG ratio of 1.42 and a beta of 1.21.
Insider Activity at Fifth Third Bancorp
In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the business's stock in a transaction 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 transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction 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 owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on FITB shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Citigroup raised their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Truist Financial increased their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. 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 note on Thursday. Finally, Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $47.36.
Read Our Latest Report on Fifth Third Bancorp
About Fifth Third Bancorp
(
Free Report)
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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