Vista Investment Partners II LLC Purchases Shares of 71,657 Fifth Third Bancorp (NASDAQ:FITB)

Vista Investment Partners II LLC purchased a new position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 71,657 shares of the financial services provider's stock, valued at approximately $3,030,000. Fifth Third Bancorp accounts for 1.8% of Vista Investment Partners II LLC's holdings, making the stock its 15th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp in the fourth quarter worth $25,000. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp in the 4th quarter worth about $28,000. Venturi Wealth Management LLC increased its stake in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after buying an additional 316 shares during the period. BankPlus Trust Department bought a new stake in Fifth Third Bancorp during the 4th quarter valued at about $29,000. Finally, Midwest Capital Advisors LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at about $33,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Down 2.7 %

NASDAQ FITB traded down $1.05 during trading on Thursday, hitting $37.48. The company's stock had a trading volume of 5,279,178 shares, compared to its average volume of 4,795,348. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. 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 company has a market cap of $25.04 billion, a PE ratio of 11.94, a P/E/G ratio of 1.42 and a beta of 1.21. The business's 50 day simple moving average is $43.01 and its 200-day simple moving average is $43.73.

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Insider Buying and Selling at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following 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 represents 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 accessible through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares of the company's stock, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FITB. Wells Fargo & Company lifted their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Citigroup lifted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. 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. Stephens restated an "equal weight" rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Finally, Morgan Stanley lowered their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp has an average rating of "Hold" and an average target price of $47.36.

Fifth Third Bancorp 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.