Blueshift Asset Management LLC Purchases 4,834 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Blueshift Asset Management LLC lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 80.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,856 shares of the financial services provider’s stock after purchasing an additional 4,834 shares during the quarter. Blueshift Asset Management LLC’s holdings in Fifth Third Bancorp were worth $459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FITB. Thrivent Financial for Lutherans boosted its holdings in shares of Fifth Third Bancorp by 10.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 62,117 shares of the financial services provider’s stock worth $2,661,000 after purchasing an additional 5,682 shares during the period. Pathstone Holdings LLC boosted its holdings in shares of Fifth Third Bancorp by 1.8% in the 3rd quarter. Pathstone Holdings LLC now owns 147,822 shares of the financial services provider’s stock worth $6,344,000 after purchasing an additional 2,578 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Fifth Third Bancorp by 0.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 261,039 shares of the financial services provider’s stock worth $11,183,000 after purchasing an additional 945 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Fifth Third Bancorp by 2.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,137 shares of the financial services provider’s stock worth $2,234,000 after purchasing an additional 1,216 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in Fifth Third Bancorp by 22.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 4,951 shares of the financial services provider’s stock valued at $212,000 after acquiring an additional 909 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 0.1 %

FITB opened at $39.43 on Friday. The firm has a market cap of $26.34 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.42 and a beta of 1.21. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The stock has a fifty day moving average price of $42.56 and a 200-day moving average price of $43.58.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.75%. Fifth Third Bancorp’s payout ratio is 47.13%.

Analyst Ratings Changes

FITB has been the subject of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. DA Davidson boosted their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Truist Financial boosted their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Morgan Stanley dropped their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, Barclays boosted their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.36.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the company’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 transaction, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO James C. Leonard sold 17,200 shares of the company’s 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 transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % 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.

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.