Pzena Investment Management LLC Has $41.52 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Pzena Investment Management LLC lowered its position in Fifth Third Bancorp (NASDAQ:FITB) by 15.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 982,110 shares of the financial services provider’s stock after selling 181,796 shares during the quarter. Pzena Investment Management LLC’s holdings in Fifth Third Bancorp were worth $41,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC boosted its holdings in shares of Fifth Third Bancorp by 1.1% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after buying an additional 222 shares in the last quarter. Transamerica Financial Advisors Inc. boosted its holdings in shares of Fifth Third Bancorp by 7.5% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after buying an additional 232 shares in the last quarter. Eads & Heald Wealth Management boosted its holdings in shares of Fifth Third Bancorp by 3.0% during the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock worth $347,000 after buying an additional 235 shares in the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Fifth Third Bancorp by 3.6% during the 4th quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock worth $285,000 after buying an additional 236 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Fifth Third Bancorp by 4.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock worth $231,000 after buying an additional 246 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity

In other news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now directly 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. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

FITB has been the topic of a number of recent research reports. DA Davidson increased their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Stephens reiterated an “equal weight” rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Barclays increased their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Truist Financial increased their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.31.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $39.28 on Tuesday. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07. The stock has a market cap of $26.24 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The stock’s fifty day simple moving average is $43.16 and its two-hundred day simple moving average is $43.80. 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 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.