Fifth Third Bancorp (NASDAQ:FITB) Shares Acquired by Boston Partners

Boston Partners grew its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,135,430 shares of the financial services provider’s stock after purchasing an additional 823,803 shares during the period. Boston Partners owned approximately 2.11% of Fifth Third Bancorp worth $597,692,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FITB. Boston Common Asset Management LLC boosted its stake in shares of Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after buying an additional 34,203 shares in the last quarter. AMJ Financial Wealth Management boosted its position in 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 purchasing an additional 9,401 shares in the last quarter. Banco Santander S.A. purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $357,000. Lockheed Martin Investment Management Co. purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $9,878,000. Finally, Smith Group Asset Management LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth $423,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays upped their price objective 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. Piper Sandler restated an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. DA Davidson upped their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley dropped their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. 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 data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $47.36.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction dated Wednesday, February 19th. The shares were 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 of the company’s stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB opened at $38.99 on Tuesday. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07. The business has a 50-day moving average of $42.76 and a 200-day moving average of $43.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $26.05 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.42 and a beta of 1.21.

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.