Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Sei Investments Co.

Sei Investments Co. decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 749,490 shares of the financial services provider’s stock after selling 34,699 shares during the quarter. Sei Investments Co.’s holdings in Fifth Third Bancorp were worth $31,689,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PL Capital Advisors LLC raised its stake in Fifth Third Bancorp by 4,128.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock worth $78,654,000 after purchasing an additional 1,816,320 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth approximately $53,508,000. Raymond James Financial Inc. purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at approximately $38,971,000. Boston Partners lifted 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 acquiring an additional 823,803 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Fifth Third Bancorp by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock worth $912,692,000 after acquiring an additional 812,385 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction 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 $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. This trade represents 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.

Fifth Third Bancorp Trading Down 0.2 %

NASDAQ:FITB opened at $40.17 on Wednesday. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07. The stock has a market cap of $26.84 billion, a P/E ratio of 12.79, 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 quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50-day simple moving average of $42.44 and a 200-day simple moving average of $43.56.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.37 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.68%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Analyst Ratings Changes

Several brokerages have recently commented on FITB. Citigroup decreased their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods increased their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Barclays boosted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. 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. Finally, Truist Financial boosted their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $46.86.

About Fifth Third Bancorp

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.