Fifth Third Bancorp (NASDAQ:FITB) Stock Position Lowered by Qtron Investments LLC

Qtron Investments LLC lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 16.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,113 shares of the financial services provider’s stock after selling 4,733 shares during the quarter. Qtron Investments LLC’s holdings in Fifth Third Bancorp were worth $1,019,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $25,000. Sierra Ocean LLC acquired a new stake in Fifth Third Bancorp during the fourth quarter valued at approximately $28,000. BankPlus Trust Department bought a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $29,000. Midwest Capital Advisors LLC acquired a new position in Fifth Third Bancorp in the fourth quarter worth approximately $33,000. Finally, Y.D. More Investments Ltd increased its holdings 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 valued at $35,000 after buying an additional 449 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Up 0.0 %

Shares of Fifth Third Bancorp stock opened at $33.84 on Friday. The firm has a market cap of $22.61 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 1.42 and a beta of 0.99. The stock has a 50-day simple moving average of $40.10 and a 200-day simple moving average of $42.94. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week 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.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is 47.13%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s 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 owns 130,856 shares in the company, 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. 0.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FITB has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and issued a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Truist Financial lifted their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Robert W. Baird raised shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price objective for the company in a research note on Monday, April 7th. Morgan Stanley decreased their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $48.12.

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.