Mizuho Securities USA LLC Buys 19,665 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Mizuho Securities USA LLC boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 44.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,552 shares of the financial services provider’s stock after acquiring an additional 19,665 shares during the period. Mizuho Securities USA LLC’s holdings in Fifth Third Bancorp were worth $2,687,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Boston Common Asset Management LLC raised its position in shares of Fifth Third Bancorp by 12.4% during 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 purchasing an additional 34,203 shares during the period. Boston Partners raised its holdings in Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock valued at $597,692,000 after acquiring an additional 823,803 shares during the period. 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. bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $357,000. Finally, Lockheed Martin Investment Management Co. purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $9,878,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on FITB shares. Morgan Stanley dropped their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Truist Financial upped their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, DA Davidson lifted 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.86.

Fifth Third Bancorp Trading Up 2.0 %

FITB stock opened at $40.25 on Tuesday. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. The stock has a market capitalization of $26.89 billion, a price-to-earnings ratio of 12.82, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm’s fifty day simple moving average is $42.50 and its two-hundred day simple moving average is $43.57.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.13%.

Insiders Place Their Bets

In other news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by insiders.

About Fifth Third Bancorp

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.