Fuller & Thaler Asset Management Inc. Has $1.10 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Fuller & Thaler Asset Management Inc. boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 86.2% during the fourth quarter, Holdings Channel reports. The fund owned 25,975 shares of the financial services provider’s stock after acquiring an additional 12,025 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Fifth Third Bancorp were worth $1,098,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. World Investment Advisors LLC bought a new position in Fifth Third Bancorp in the 3rd quarter valued at $263,000. Wilmington Savings Fund Society FSB acquired a new position in Fifth Third Bancorp during the 3rd quarter valued at about $191,000. Tidal Investments LLC grew its position in shares of Fifth Third Bancorp by 10.0% during the 3rd quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider’s stock worth $1,069,000 after buying an additional 2,265 shares during the period. Franklin Resources Inc. boosted its stake in Fifth Third Bancorp by 8.1% in the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after acquiring an additional 409,292 shares during the last quarter. Finally, 1ST Source Bank bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at $211,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Performance

FITB opened at $35.28 on Friday. The firm has a market capitalization of $23.57 billion, a PE ratio of 11.24, a PEG ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07. The business’s 50-day simple moving average is $38.25 and its 200 day simple moving average is $42.41. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same quarter last year, the company posted $0.70 earnings per share. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 4.20%. Fifth Third Bancorp’s dividend payout ratio is currently 46.98%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Barclays lowered their target price on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Truist Financial lowered their price objective on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday. Robert W. Baird upgraded Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price target for the company in a report on Monday, April 7th. Finally, Baird R W upgraded Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 7th. One 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.24.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the 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 transaction, 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 disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Fifth Third Bancorp 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.