Jones Financial Companies Lllp Acquires 15,877 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Jones Financial Companies Lllp grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 131.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 27,934 shares of the financial services provider’s stock after purchasing an additional 15,877 shares during the period. Jones Financial Companies Lllp’s holdings in Fifth Third Bancorp were worth $1,181,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at about $25,000. Venturi Wealth Management LLC boosted its stake in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at about $28,000. BankPlus Trust Department acquired a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $29,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Fifth Third Bancorp in the third quarter worth approximately $36,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 transaction of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the company’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 owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Truist Financial lifted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Citigroup lifted their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Stephens reaffirmed an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.31.

Fifth Third Bancorp Trading Up 0.5 %

NASDAQ FITB opened at $40.06 on Friday. The company has a market cap of $26.66 billion, a price-to-earnings ratio of 12.76, a P/E/G ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07. The business has a 50 day moving average price of $43.23 and a 200-day moving average price of $43.77. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.69%. Fifth Third Bancorp’s dividend payout ratio is 47.13%.

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.