20,752 Shares in Fifth Third Bancorp (NASDAQ:FITB) Acquired by Virtu Financial LLC

Virtu Financial LLC bought a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 20,752 shares of the financial services provider’s stock, valued at approximately $877,000.

Several other institutional investors have also added to or reduced their stakes in FITB. PL Capital Advisors LLC raised its stake in shares of 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 buying an additional 1,816,320 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $53,508,000. Raymond James Financial Inc. purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth $38,971,000. Boston Partners raised its position in shares of Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock valued at $597,692,000 after purchasing an additional 823,803 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Fifth Third Bancorp by 3.9% in 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 buying an additional 812,385 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FITB shares. Truist Financial lifted their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price objective 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. Stephens restated an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.86.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $40.25 on Tuesday. 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 stock has a market cap of $26.89 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The firm has a 50-day moving average of $42.50 and a two-hundred day moving average of $43.57. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.37 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.68%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.13%.

Insiders Place Their Bets

In other news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $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. 0.53% of the stock is currently owned by company insiders.

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.