Blair William & Co. IL Purchases 14,031 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Blair William & Co. IL raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 29.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,351 shares of the financial services provider’s stock after purchasing an additional 14,031 shares during the period. Blair William & Co. IL’s holdings in Fifth Third Bancorp were worth $2,594,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $25,000. Sierra Ocean LLC acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $28,000. BankPlus Trust Department bought a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the third quarter worth $36,000. Finally, Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the 4th quarter valued at $33,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FITB has been the topic of several recent research reports. Keefe, Bruyette & Woods lifted their price target 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. Piper Sandler restated an “overweight” rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Wells Fargo & Company decreased their price target on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. DA Davidson boosted their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley decreased their target price on shares of 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.50.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $38.93 on Wednesday. The company has a market cap of $26.01 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.42 and a beta of 1.21. The firm’s fifty day moving average price is $41.96 and its two-hundred day moving average price is $43.49. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.80%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insider Activity

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp 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 transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company 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.