Securian Asset Management Inc. Sells 1,393 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Securian Asset Management Inc. lessened its position in Fifth Third Bancorp (NASDAQ:FITB) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,038 shares of the financial services provider’s stock after selling 1,393 shares during the period. Securian Asset Management Inc.’s holdings in Fifth Third Bancorp were worth $1,524,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $25,000. Sierra Ocean LLC bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $28,000. Venturi Wealth Management LLC increased its position in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 316 shares in the last quarter. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $29,000. Finally, Midwest Capital Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $33,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $37.48 on Friday. The stock has a market cap of $25.04 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.42 and a beta of 1.21. 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 company has a fifty day moving average price of $42.91 and a two-hundred day moving average price of $43.69. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s 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 completion of the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the firm’s 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 directly owns 244,487 shares in the company, 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. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FITB shares. Morgan Stanley lowered their price objective 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. Truist Financial increased their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. DA Davidson increased their price objective 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. Citigroup increased their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Piper Sandler reissued 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.36.

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.