Pzena Investment Management LLC Has $41.52 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Pzena Investment Management LLC reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 982,110 shares of the financial services provider’s stock after selling 181,796 shares during the period. Pzena Investment Management LLC owned 0.15% of Fifth Third Bancorp worth $41,524,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $25,000. Sierra Ocean LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $28,000. Venturi Wealth Management LLC increased its holdings in shares of Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the last quarter. BankPlus Trust Department acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $29,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $33,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the business’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 completion of the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated 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 position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Down 1.9 %

Shares of NASDAQ FITB opened at $39.28 on Tuesday. 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 has a market cap of $26.24 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The stock has a 50-day moving average price of $43.16 and a two-hundred day moving average price of $43.80.

Analysts Set New Price Targets

FITB has been the subject of a number of recent research reports. Piper Sandler reissued an “overweight” rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. DA Davidson boosted 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 report on Thursday, January 23rd. Truist Financial boosted their target price 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. Wells Fargo & Company boosted their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Stephens reissued an “equal weight” rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.31.

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.