Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Inceptionr LLC

Inceptionr LLC increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 28.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,466 shares of the financial services provider’s stock after acquiring an additional 8,264 shares during the quarter. Inceptionr LLC’s holdings in Fifth Third Bancorp were worth $1,584,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FITB. PL Capital Advisors LLC raised its stake in Fifth Third Bancorp by 4,128.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock worth $78,654,000 after acquiring an additional 1,816,320 shares during the period. Raymond James Financial Inc. acquired a new stake in Fifth Third Bancorp during the fourth quarter worth about $38,971,000. Charles Schwab Investment Management Inc. raised its stake in Fifth Third Bancorp by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock worth $912,692,000 after acquiring an additional 812,385 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in Fifth Third Bancorp during the third quarter worth about $28,490,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in Fifth Third Bancorp by 76.2% during the third 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 during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $40.45 on Thursday. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month 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 firm has a market capitalization of $26.92 billion, a PE ratio of 12.88, a P/E/G ratio of 1.42 and a beta of 1.21. The company’s 50 day simple moving average is $43.36 and its 200 day simple moving average is $43.80.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.66%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Piper Sandler restated an “overweight” rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Truist Financial upped their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Finally, Citigroup upped their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. 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 price target of $47.31.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred 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 transaction, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company 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.