Natixis Advisors LLC Buys 15,667 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Natixis Advisors LLC raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 816,116 shares of the financial services provider’s stock after acquiring an additional 15,667 shares during the period. Natixis Advisors LLC’s holdings in Fifth Third Bancorp were worth $34,505,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in Fifth Third Bancorp by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock valued at $912,692,000 after acquiring an additional 812,385 shares during the period. Franklin Resources Inc. grew its position in Fifth Third Bancorp by 8.1% in the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after acquiring an additional 409,292 shares during the period. Davis Selected Advisers grew its position in Fifth Third Bancorp by 0.4% in the fourth quarter. Davis Selected Advisers now owns 2,444,176 shares of the financial services provider’s stock valued at $103,340,000 after acquiring an additional 8,640 shares during the period. Smead Capital Management Inc. boosted its stake in Fifth Third Bancorp by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock worth $95,278,000 after purchasing an additional 75,024 shares in the last quarter. Finally, PL Capital Advisors LLC boosted its stake in Fifth Third Bancorp by 4,128.0% in 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 purchasing an additional 1,816,320 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the 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 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 SEC, which is accessible through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Up 2.9 %

NASDAQ:FITB opened at $38.55 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $25.76 billion, a PE ratio of 12.28, a PEG 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 stock has a 50-day simple moving average of $42.84 and a 200 day simple moving average of $43.69.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Stephens reissued an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Piper Sandler reissued an “overweight” rating and issued a $53.00 price objective (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 objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Keefe, Bruyette & Woods boosted 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. Finally, Morgan Stanley cut their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus 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.