Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 373,380 shares of the financial services provider’s stock after purchasing an additional 1,492 shares during the quarter. Nisa Investment Advisors LLC owned about 0.06% of Fifth Third Bancorp worth $15,925,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after buying an additional 732,651 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in Fifth Third Bancorp in the third quarter valued at $28,490,000. Millennium Management LLC increased its stake in Fifth Third Bancorp by 896.7% during the second quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock worth $23,678,000 after acquiring an additional 583,781 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in Fifth Third Bancorp by 76.2% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock worth $57,005,000 after acquiring an additional 575,449 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Fifth Third Bancorp by 8.1% in the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after purchasing an additional 409,292 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FITB. Barclays increased their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Citigroup increased their price objective 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. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday. Finally, Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.14.

Insiders Place Their Bets

In related news, EVP Kristine R. Garrett sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Fifth Third Bancorp Price Performance

FITB opened at $43.93 on Thursday. The company has a market capitalization of $29.46 billion, a P/E ratio of 14.59, a PEG ratio of 1.93 and a beta of 1.24. The company has a 50-day moving average of $44.91 and a 200-day moving average of $43.02. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.37%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 47.13%.

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.