Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 442,762 shares of the financial services provider's stock after selling 11,760 shares during the quarter. Russell Investments Group Ltd. owned about 0.07% of Fifth Third Bancorp worth $18,721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $25,000. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth approximately $28,000. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. Midwest Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $33,000. Finally, Y.D. More Investments Ltd lifted its position in shares of Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock worth $35,000 after purchasing an additional 449 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

NASDAQ FITB traded up $0.01 during trading hours on Friday, hitting $33.84. The company had a trading volume of 5,836,563 shares, compared to its average volume of 4,466,293. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The firm has a market cap of $22.61 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $40.10 and a 200-day simple moving average of $42.94.

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Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp's payout ratio is 47.13%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. DA Davidson lifted their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Stephens reiterated an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Royal Bank of Canada restated an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Robert W. Baird raised Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price on the stock in a research report on Monday, April 7th. Finally, Piper Sandler reissued an "overweight" rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research report 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $48.12.

Insiders Place Their Bets

In related news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of 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. 0.53% of the stock is owned by 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.