Fort Washington Investment Advisors Inc. OH Sells 1,670 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Fort Washington Investment Advisors Inc. OH cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 0.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,616,571 shares of the financial services provider’s stock after selling 1,670 shares during the quarter. Fifth Third Bancorp comprises 1.4% of Fort Washington Investment Advisors Inc. OH’s portfolio, making the stock its 16th largest position. Fort Washington Investment Advisors Inc. OH owned approximately 0.84% of Fifth Third Bancorp worth $237,469,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FITB. Boston Common Asset Management LLC raised its position in shares of Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after acquiring an additional 34,203 shares during the period. QRG Capital Management Inc. raised its holdings in Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after purchasing an additional 9,444 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Fifth Third Bancorp by 13.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock worth $19,776,000 after purchasing an additional 55,081 shares during the period. Icon Wealth Advisors LLC bought a new position in shares of Fifth Third Bancorp during the third quarter worth $541,000. Finally, Nordea Investment Management AB grew its holdings in shares of Fifth Third Bancorp by 8.9% in the 4th quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock valued at $28,286,000 after buying an additional 54,463 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on FITB shares. Citigroup raised 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. Piper Sandler raised their price target on Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods boosted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Evercore ISI lifted their price target on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.92.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $44.86 on Wednesday. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-week high of $49.07. The company has a market cap of $30.08 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The stock’s 50-day simple moving average is $44.96 and its 200 day simple moving average is $42.95.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

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.