Citizens Financial Group Inc. RI Buys 561 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Citizens Financial Group Inc. RI lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,211 shares of the financial services provider’s stock after purchasing an additional 561 shares during the period. Citizens Financial Group Inc. RI’s holdings in Fifth Third Bancorp were worth $559,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Riverbend Wealth Management LLC acquired a new stake in Fifth Third Bancorp during the 4th quarter worth $599,000. Vista Investment Partners II LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $3,030,000. Independent Advisor Alliance increased its holdings in Fifth Third Bancorp by 13.2% in the fourth quarter. Independent Advisor Alliance now owns 14,935 shares of the financial services provider’s stock valued at $631,000 after purchasing an additional 1,745 shares during the last quarter. Johnson Investment Counsel Inc. increased its holdings in Fifth Third Bancorp by 6.2% in the fourth quarter. Johnson Investment Counsel Inc. now owns 146,140 shares of the financial services provider’s stock valued at $6,179,000 after purchasing an additional 8,552 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Fifth Third Bancorp by 6.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 88,530 shares of the financial services provider’s stock worth $3,743,000 after buying an additional 5,292 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 2.7 %

NASDAQ:FITB opened at $37.48 on Friday. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. The firm has a market capitalization of $25.04 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock’s 50 day moving average price is $42.91 and its two-hundred day moving average price is $43.69.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FITB. Wells Fargo & Company upped their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Stephens reaffirmed an “equal weight” rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Citigroup lifted their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.36.

Insider Buying and Selling at Fifth Third Bancorp

In related news, 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.