Trexquant Investment LP Makes New Investment in Fifth Third Bancorp (NASDAQ:FITB)

Trexquant Investment LP bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 244,020 shares of the financial services provider’s stock, valued at approximately $10,317,000.

A number of other institutional investors and hedge funds also recently modified their holdings of FITB. Retirement Wealth Solutions LLC bought a new position in Fifth Third Bancorp in the 4th quarter valued at $25,000. Sierra Ocean LLC bought a new position in Fifth Third Bancorp during the fourth quarter valued at about $28,000. BankPlus Trust Department purchased a new stake in Fifth Third Bancorp during the fourth quarter worth about $29,000. Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp in the fourth quarter worth about $33,000. Finally, Y.D. More Investments Ltd boosted its stake in Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 449 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of the 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 completion of the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $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 0.53% of the company’s stock.

Fifth Third Bancorp Trading Up 1.8 %

Fifth Third Bancorp stock opened at $39.62 on Thursday. The stock has a market cap of $26.47 billion, a P/E ratio of 12.62, a PEG ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The firm’s fifty day moving average price is $41.88 and its 200-day moving average price is $43.47. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.74%. Fifth Third Bancorp’s payout ratio is currently 47.13%.

Analyst Ratings Changes

A number of equities research analysts recently commented on FITB shares. DA Davidson lifted their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Morgan Stanley lowered their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Keefe, Bruyette & Woods increased their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Stephens restated an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Finally, Truist Financial increased their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $47.50.

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.