Farringdon Capital Ltd. Takes $810,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Farringdon Capital Ltd. purchased a new position in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,167 shares of the financial services provider’s stock, valued at approximately $810,000.

Other large investors also recently modified their holdings of the company. Eads & Heald Wealth Management lifted its stake in shares of Fifth Third Bancorp by 3.0% in the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 235 shares during the period. Valley National Advisers Inc. increased its holdings in Fifth Third Bancorp by 3.6% in the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock valued at $285,000 after buying an additional 236 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Fifth Third Bancorp by 4.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 246 shares during the period. Brooklyn Investment Group boosted its stake in shares of Fifth Third Bancorp by 9.1% during the 4th quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 257 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Fifth Third Bancorp by 16.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 261 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. Stephens reiterated an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. 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. Baird R W raised shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Piper Sandler restated an “overweight” rating and set a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average target price of $48.12.

Insider Buying and Selling

In other news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Down 1.9 %

Shares of NASDAQ:FITB opened at $34.40 on Thursday. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $49.07. The stock’s 50-day moving average price is $39.54 and its two-hundred day moving average price is $42.77. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market cap of $22.98 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 4.30%. Fifth Third Bancorp’s payout ratio is 47.13%.

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.