Smartleaf Asset Management LLC Raises Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Smartleaf Asset Management LLC increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 34.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,930 shares of the financial services provider’s stock after purchasing an additional 1,260 shares during the period. Smartleaf Asset Management LLC’s holdings in Fifth Third Bancorp were worth $211,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FITB. Charles Schwab Investment Management Inc. lifted its stake in Fifth Third Bancorp by 3.7% in the third 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 last quarter. Franklin Resources Inc. increased 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 valued at $242,713,000 after acquiring an additional 409,292 shares during the period. Smead Capital Management Inc. raised its position in Fifth Third Bancorp by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock valued at $95,278,000 after purchasing an additional 75,024 shares during the last quarter. PL Capital Advisors LLC boosted its stake in Fifth Third Bancorp by 4,128.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock worth $78,654,000 after purchasing an additional 1,816,320 shares during the period. Finally, Zacks Investment Management grew its position in Fifth Third Bancorp by 10.0% during the 3rd quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock worth $74,450,000 after purchasing an additional 158,067 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FITB shares. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Stephens reaffirmed an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. DA Davidson upped their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, Citigroup lifted their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.31.

Fifth Third Bancorp Trading Down 2.8 %

Shares of FITB opened at $40.45 on Thursday. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. 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 capitalization of $26.92 billion, a P/E ratio of 12.88, a PEG ratio of 1.42 and a beta of 1.21. The firm’s 50-day moving average is $43.36 and its two-hundred day moving average is $43.80.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Insider Activity at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was 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 owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

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.