Blueshift Asset Management LLC Buys 4,834 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Blueshift Asset Management LLC grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 80.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,856 shares of the financial services provider’s stock after acquiring an additional 4,834 shares during the quarter. Blueshift Asset Management LLC’s holdings in Fifth Third Bancorp were worth $459,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FITB. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at $28,000. BankPlus Trust Department purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at $29,000. Midwest Capital Advisors LLC purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at $33,000. Finally, Y.D. More Investments Ltd boosted its position in shares of Fifth Third Bancorp by 118.5% during the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after buying an additional 449 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Down 0.1 %

Shares of FITB opened at $39.43 on Friday. The business’s 50 day moving average is $42.56 and its 200 day moving average is $43.58. The company has a market capitalization of $26.34 billion, a PE ratio of 12.56, a price-to-earnings-growth 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 company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.75%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp 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 sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on FITB. Stephens reaffirmed an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Keefe, Bruyette & Woods increased their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Truist Financial raised their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $53.00 target price (down 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 assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.