AGF Management Ltd. Buys 11,995 Shares of Fifth Third Bancorp (NASDAQ:FITB)

AGF Management Ltd. lifted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 85.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,962 shares of the financial services provider’s stock after acquiring an additional 11,995 shares during the quarter. AGF Management Ltd.’s holdings in Fifth Third Bancorp were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Boston Common Asset Management LLC raised its position in shares of Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after acquiring an additional 34,203 shares during the last quarter. AMJ Financial Wealth Management raised its position in shares of Fifth Third Bancorp by 4.2% during the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock worth $9,843,000 after acquiring an additional 9,401 shares during the last quarter. Lockheed Martin Investment Management Co. bought a new stake in Fifth Third Bancorp in the fourth quarter worth approximately $9,878,000. Banco Santander S.A. bought a new stake in Fifth Third Bancorp in the fourth quarter worth approximately $357,000. Finally, Smith Group Asset Management LLC bought a new stake in Fifth Third Bancorp in the fourth quarter worth approximately $423,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Up 2.9 %

Shares of NASDAQ:FITB opened at $38.55 on Friday. The stock has a market cap of $25.76 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.42 and a beta of 1.21. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07. The business’s 50 day moving average is $42.84 and its 200 day moving average is $43.67.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction 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 transaction, the executive vice president now 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FITB shares. Wells Fargo & Company lifted their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods lifted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Citigroup lifted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial lifted their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Barclays boosted their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One 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 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.