Loomis Sayles & Co. L P Takes $44,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Loomis Sayles & Co. L P acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,046 shares of the financial services provider’s stock, valued at approximately $44,000.

Other institutional investors have also added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its position in Fifth Third Bancorp by 1.4% during the 3rd quarter. D.A. Davidson & CO. now owns 21,423 shares of the financial services provider’s stock worth $918,000 after acquiring an additional 289 shares during the last quarter. FMR LLC boosted its holdings in Fifth Third Bancorp by 5.7% during the third quarter. FMR LLC now owns 1,692,599 shares of the financial services provider’s stock worth $72,511,000 after purchasing an additional 91,574 shares during the last quarter. Townsquare Capital LLC bought a new position in Fifth Third Bancorp in the third quarter valued at $804,000. CreativeOne Wealth LLC acquired a new stake in Fifth Third Bancorp in the 3rd quarter valued at $271,000. Finally, Public Sector Pension Investment Board lifted its position in Fifth Third Bancorp by 1.9% during the 3rd quarter. Public Sector Pension Investment Board now owns 118,197 shares of the financial services provider’s stock worth $5,064,000 after buying an additional 2,200 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Up 1.0 %

Shares of NASDAQ FITB opened at $39.20 on Tuesday. The stock has a market capitalization of $26.19 billion, a P/E ratio of 12.48, a PEG 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. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07. The stock’s fifty day moving average is $42.08 and its 200 day moving average is $43.52.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the firm’s 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 approximately $10,820,994.62. This 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.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on FITB shares. Truist Financial upped their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Morgan Stanley cut their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Piper Sandler restated an “overweight” rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their price objective on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, DA Davidson raised their target price 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.64.

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.