Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 451.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,680 shares of the financial services provider’s stock after acquiring an additional 2,194 shares during the period. Picton Mahoney Asset Management’s holdings in Fifth Third Bancorp were worth $113,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FITB. Boston Common Asset Management LLC lifted its stake in Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after buying an additional 34,203 shares in the last quarter. AMJ Financial Wealth Management lifted its position in shares of Fifth Third Bancorp by 4.2% in the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock valued at $9,843,000 after acquiring an additional 9,401 shares in the last quarter. Banco Santander S.A. purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth approximately $357,000. Lockheed Martin Investment Management Co. acquired a new position in Fifth Third Bancorp in the 4th quarter valued at $9,878,000. Finally, Smith Group Asset Management LLC purchased a new position in Fifth Third Bancorp in the 4th quarter valued at $423,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fifth Third Bancorp 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 sale, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp 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 completion of the transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $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 insiders.

Fifth Third Bancorp Stock Up 2.9 %

Shares of NASDAQ:FITB opened at $38.55 on Monday. The firm has a market capitalization of $25.76 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 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. The firm’s 50-day moving average is $42.84 and its two-hundred day moving average is $43.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FITB shares. Stephens reaffirmed an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Citigroup upped their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley dropped their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and an average price target of $47.36.

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.