921,726 Shares in Fifth Third Bancorp (NASDAQ:FITB) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 921,726 shares of the financial services provider’s stock, valued at approximately $38,971,000. Raymond James Financial Inc. owned approximately 0.14% of Fifth Third Bancorp at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Retirement Wealth Solutions LLC bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $25,000. Sierra Ocean LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $28,000. BankPlus Trust Department acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth $29,000. Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp during the 4th quarter worth $33,000. Finally, Y.D. More Investments Ltd raised its position in 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 purchasing an additional 449 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insiders Place Their Bets

In related news, COO James C. Leonard sold 17,200 shares of the 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 directly owns 244,487 shares in the company, valued at $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 is available through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value 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 represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. DA Davidson upped their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Robert W. Baird raised shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price objective on the stock in a research note on Monday, April 7th. Piper Sandler restated an “overweight” rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Finally, Truist Financial upped their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.12.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $35.07 on Wednesday. The firm has a 50-day moving average of $39.73 and a 200-day moving average of $42.83. The firm has a market cap of $23.43 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.42 and a beta of 0.99. 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 has a 1-year low of $31.96 and a 1-year high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.22%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.13%.

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.