Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 6.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 146,140 shares of the financial services provider’s stock after buying an additional 8,552 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Fifth Third Bancorp were worth $6,179,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Fifth Third Bancorp by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock worth $912,692,000 after purchasing an additional 812,385 shares during the period. Franklin Resources Inc. grew its stake in shares of Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after purchasing an additional 409,292 shares during the period. Davis Selected Advisers grew its stake in shares of Fifth Third Bancorp by 0.4% during the 4th quarter. Davis Selected Advisers now owns 2,444,176 shares of the financial services provider’s stock worth $103,340,000 after purchasing an additional 8,640 shares during the period. Smead Capital Management Inc. grew its stake in shares of Fifth Third Bancorp by 3.5% during the 3rd 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 during the period. Finally, PL Capital Advisors LLC grew its stake in shares of Fifth Third Bancorp by 4,128.0% during the 4th 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 during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FITB has been the topic of a number of recent analyst reports. Stephens reaffirmed an “equal weight” rating and set a $51.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Barclays upped their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. DA Davidson increased their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. 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. Finally, Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $47.31.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $39.28 on Tuesday. The firm has a market cap of $26.24 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company’s 50-day moving average is $43.16 and its two-hundred day moving average is $43.80. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07.

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.