Xponance Inc. Grows Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Xponance Inc. raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,708 shares of the financial services provider’s stock after buying an additional 1,964 shares during the period. Xponance Inc.’s holdings in Fifth Third Bancorp were worth $4,300,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Boston Partners boosted its holdings in Fifth Third Bancorp by 6.2% in the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock valued at $597,692,000 after purchasing an additional 823,803 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $2,139,000. Corient Private Wealth LLC grew its position in shares of Fifth Third Bancorp by 0.4% during the fourth quarter. Corient Private Wealth LLC now owns 219,200 shares of the financial services provider’s stock worth $9,266,000 after buying an additional 958 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Fifth Third Bancorp by 10.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 97,492 shares of the financial services provider’s stock worth $4,122,000 after buying an additional 8,963 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in Fifth Third Bancorp by 2.0% in the fourth quarter. Natixis Advisors LLC now owns 816,116 shares of the financial services provider’s stock valued at $34,505,000 after acquiring an additional 15,667 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction that occurred 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. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $39.43 on Friday. The firm’s 50 day moving average is $42.56 and its two-hundred day moving average is $43.58. The firm has a market capitalization of $26.34 billion, a P/E ratio of 12.56, a PEG ratio of 1.42 and a beta of 1.21. 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 has a 52 week low of $33.82 and a 52 week high of $49.07.

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 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 payout ratio is currently 47.13%.

Wall Street Analyst Weigh In

FITB has been the subject of several recent analyst reports. DA Davidson raised their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Keefe, Bruyette & Woods upped their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler reiterated 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. Finally, Stephens reissued an “equal weight” rating and set a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average 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.