Sanibel Captiva Trust Company Inc. Makes New $400,000 Investment in Fifth Third Bancorp (NASDAQ:FITB)

Sanibel Captiva Trust Company Inc. purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,452 shares of the financial services provider’s stock, valued at approximately $400,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FITB. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fifth Third Bancorp by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after acquiring an additional 732,651 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Fifth Third Bancorp in the 3rd quarter worth about $28,490,000. Millennium Management LLC grew its holdings in Fifth Third Bancorp by 896.7% during the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after buying an additional 583,781 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Fifth Third Bancorp by 76.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock valued at $57,005,000 after buying an additional 575,449 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Fifth Third Bancorp by 8.1% in the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after buying an additional 409,292 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, September 30th. Piper Sandler increased their price objective on Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their target price on 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 lifted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Truist Financial assumed coverage on shares of Fifth Third Bancorp in a research report on Tuesday, January 7th. They issued a “buy” rating and a $51.00 price objective on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and an average price target of $45.92.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Up 2.5 %

Shares of Fifth Third Bancorp stock opened at $44.34 on Monday. The company’s fifty day simple moving average is $45.02 and its two-hundred day simple moving average is $42.86. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The company has a market cap of $29.73 billion, a P/E ratio of 14.73, a PEG ratio of 1.79 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a net margin of 16.58% and a return on equity of 14.58%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. Research analysts anticipate that Fifth Third Bancorp will post 3.31 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.34%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.17%.

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.