Headlands Technologies LLC Takes Position in Fifth Third Bancorp (NASDAQ:FITB)

Headlands Technologies LLC bought a new position in Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,382 shares of the financial services provider’s stock, valued at approximately $185,000.

Other large investors have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp during the fourth quarter valued at $25,000. Sierra Ocean LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at about $28,000. BankPlus Trust Department bought a new stake in Fifth Third Bancorp during the fourth quarter worth about $29,000. Legacy Investment Solutions LLC purchased a new position in shares of Fifth Third Bancorp in the 3rd quarter worth about $36,000. Finally, Midwest Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $33,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $33.75 on Friday. The business has a fifty day moving average price of $41.50 and a 200-day moving average price of $43.36. 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 company has a market capitalization of $22.55 billion, a PE ratio of 10.75, a PEG ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 1-year low of $32.75 and a 1-year high of $49.07.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 4.39%. Fifth Third Bancorp’s payout ratio is 47.13%.

Wall Street Analyst Weigh In

Several analysts have issued reports on FITB shares. Barclays upped their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Citigroup lowered their price target on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Truist Financial raised their price objective on 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. decreased their target price on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company decreased their price objective on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.19.

Insiders Place Their Bets

In other news, 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 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. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred 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 in the company, valued at $5,698,778.80. This trade represents a 14.22 % 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 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.