Norinchukin Bank The Purchases 2,038 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Norinchukin Bank The boosted its position in Fifth Third Bancorp (NASDAQ:FITB) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,577 shares of the financial services provider’s stock after purchasing an additional 2,038 shares during the period. Norinchukin Bank The’s holdings in Fifth Third Bancorp were worth $1,251,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

FITB has been the topic of a number of analyst reports. Truist Financial upped their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. cut their price target on Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Stephens reiterated an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Wells Fargo & Company decreased their price target on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $46.71.

Insider Activity at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction on 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 directly owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James C. Leonard sold 17,200 shares of the firm’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 completion of the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Down 2.4 %

FITB stock opened at $33.32 on Tuesday. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The stock has a market cap of $22.26 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.42 and a beta of 0.99. The stock’s fifty day simple moving average is $38.95 and its two-hundred day simple moving average is $42.60. 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 (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.37 per share. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.44%. Fifth Third Bancorp’s payout ratio is 46.98%.

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.