Barclays PLC Sells 158,195 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Barclays PLC reduced its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,804,339 shares of the financial services provider’s stock after selling 158,195 shares during the period. Barclays PLC’s holdings in Fifth Third Bancorp were worth $118,568,000 as of its most recent SEC filing.

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

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $35.07 on Wednesday. The firm has a 50-day moving average price of $39.73 and a two-hundred day moving average price of $42.83. Fifth Third Bancorp has a 12-month low of $31.96 and a 12-month high of $49.07. The company has a market capitalization of $23.43 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.42 and a beta of 0.99. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insiders Place Their Bets

In related news, 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 sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction 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. This represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FITB. Stephens reiterated an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Truist Financial upped their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price objective on the stock in a research note on Monday, April 7th. Citigroup dropped their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Finally, Wells Fargo & Company lowered their price target on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.12.

Fifth Third Bancorp Company 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.