Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 66,267 shares of the financial services provider’s stock after selling 4,423 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Fifth Third Bancorp were worth $2,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FITB. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Fifth Third Bancorp by 8.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,060,604 shares of the financial services provider’s stock valued at $44,959,000 after purchasing an additional 87,063 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in Fifth Third Bancorp by 3.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,788 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 688 shares in the last quarter. TIAA Trust National Association lifted its holdings in Fifth Third Bancorp by 4.7% in the fourth quarter. TIAA Trust National Association now owns 7,974 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 361 shares during the period. Stevens Capital Management LP bought a new position in Fifth Third Bancorp during the 4th quarter valued at $373,000. Finally, LPL Financial LLC grew its stake in shares of Fifth Third Bancorp by 16.4% in the 4th quarter. LPL Financial LLC now owns 519,339 shares of the financial services provider’s stock worth $21,958,000 after purchasing an additional 73,245 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business’s 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 in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, 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 owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on FITB. Wells Fargo & Company reduced their price target on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday. Keefe, Bruyette & Woods upped their price target on shares of 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. Truist Financial lifted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Citigroup decreased their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, DA Davidson boosted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $46.64.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $38.81 on Friday. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07. The firm has a market cap of $25.93 billion, a P/E ratio of 12.36, 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 quick ratio of 0.80 and a current ratio of 0.80. The business’s fifty day moving average is $42.18 and its two-hundred day moving average is $43.50.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.37 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.81%. Fifth Third Bancorp’s 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.