Vanguard Group Inc. Has $3.50 Billion Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Vanguard Group Inc. lowered its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 82,676,403 shares of the financial services provider’s stock after selling 23,725 shares during the period. Vanguard Group Inc. owned 0.12% of Fifth Third Bancorp worth $3,495,558,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FITB. Thrivent Financial for Lutherans increased its holdings in shares of Fifth Third Bancorp by 10.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 62,117 shares of the financial services provider’s stock worth $2,661,000 after acquiring an additional 5,682 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Fifth Third Bancorp by 2.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,137 shares of the financial services provider’s stock valued at $2,234,000 after purchasing an additional 1,216 shares during the period. Cerity Partners LLC lifted its stake in shares of Fifth Third Bancorp by 2.1% during the 3rd quarter. Cerity Partners LLC now owns 280,617 shares of the financial services provider’s stock worth $12,022,000 after buying an additional 5,899 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Fifth Third Bancorp by 11.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 11,459 shares of the financial services provider’s stock worth $491,000 after buying an additional 1,179 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in Fifth Third Bancorp by 11.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 83,238 shares of the financial services provider’s stock valued at $3,566,000 after buying an additional 8,613 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred 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 directly owns 130,856 shares in the company, 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 is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were 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 $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Truist Financial boosted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Piper Sandler reiterated an “overweight” rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Morgan Stanley reduced their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. DA Davidson raised their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Barclays boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $46.86.

Fifth Third Bancorp Stock Down 0.2 %

Fifth Third Bancorp stock opened at $40.17 on Wednesday. The firm has a market cap of $26.84 billion, a price-to-earnings ratio of 12.79, 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 company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50 day moving average price of $42.44 and a two-hundred day moving average price of $43.56.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued 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 payout ratio is 47.13%.

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.