AQR Capital Management LLC Grows Position in Fifth Third Bancorp (NASDAQ:FITB)

AQR Capital Management LLC raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 453.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 464,863 shares of the financial services provider’s stock after acquiring an additional 380,933 shares during the period. AQR Capital Management LLC owned approximately 0.07% of Fifth Third Bancorp worth $19,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FITB. Lido Advisors LLC grew its stake in shares of Fifth Third Bancorp by 170.8% in the 4th quarter. Lido Advisors LLC now owns 254,963 shares of the financial services provider’s stock worth $10,874,000 after buying an additional 160,814 shares in the last quarter. Northern Trust Corp grew its position in Fifth Third Bancorp by 12.7% in the fourth quarter. Northern Trust Corp now owns 7,074,520 shares of the financial services provider’s stock worth $299,111,000 after acquiring an additional 798,663 shares in the last quarter. Quarry LP bought a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $29,000. Prosperity Consulting Group LLC raised its position in Fifth Third Bancorp by 1.6% during the fourth quarter. Prosperity Consulting Group LLC now owns 39,734 shares of the financial services provider’s stock valued at $1,680,000 after purchasing an additional 623 shares during the period. Finally, Aquatic Capital Management LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $3,668,000. 83.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on FITB shares. Truist Financial decreased their price target on Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. 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 research note on Wednesday, January 22nd. Keefe, Bruyette & Woods reduced their price objective on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. 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 report on Thursday, March 13th. Finally, Robert W. Baird raised Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target for the company in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.24.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction 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. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Trading Up 2.8 %

Shares of NASDAQ FITB opened at $37.10 on Monday. 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 stock has a market capitalization of $24.79 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The business has a fifty day moving average price of $37.53 and a 200 day moving average price of $42.11.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the company posted $0.70 earnings per share. Equities research analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is currently 46.98%.

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.