Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 28.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 370,417 shares of the financial services provider’s stock after selling 145,997 shares during the period. Prudential Financial Inc. owned about 0.06% of Fifth Third Bancorp worth $15,661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp during the fourth quarter worth approximately $25,000. Sierra Ocean LLC acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $28,000. BankPlus Trust Department acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $29,000. Midwest Capital Advisors LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter valued at $33,000. Finally, Y.D. More Investments Ltd boosted its stake in Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 449 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FITB. Citigroup dropped their price objective on shares of 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 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. Truist Financial increased their price objective 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. DA Davidson boosted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. One equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.86.

Fifth Third Bancorp Stock Down 1.0 %

FITB opened at $39.77 on Friday. 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 company has a market cap of $26.57 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07. The business’s fifty day moving average is $42.29 and its two-hundred day moving average is $43.51.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.72%. Fifth Third Bancorp’s payout ratio is 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the company’s 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 sale, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’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 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 position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by insiders.

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.