Zurcher Kantonalbank Zurich Cantonalbank Sells 30,818 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 303,561 shares of the financial services provider's stock after selling 30,818 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Fifth Third Bancorp were worth $12,835,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp during the 4th quarter valued at about $25,000. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp during the 4th quarter valued at about $28,000. Venturi Wealth Management LLC grew its stake in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 316 shares in the last quarter. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $29,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Insider Activity

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the company's stock in a transaction on 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 in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the company's 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 $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Remove Ads

Wall Street Analyst Weigh In

Several brokerages recently commented on FITB. Piper Sandler reissued 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. Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Stephens restated an "equal weight" rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Barclays boosted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Finally, Morgan Stanley reduced their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $47.36.

Fifth Third Bancorp Stock Performance

Shares of FITB traded up $1.07 on Friday, reaching $38.55. 4,398,044 shares of the stock traded hands, compared to its average volume of 4,787,238. The firm has a market cap of $25.76 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The stock's 50-day moving average price is $42.84 and its 200-day moving average price is $43.68.

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.