Fifth Third Bancorp $FITB Shares Sold by Aberdeen Group plc

Aberdeen Group plc reduced its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 542,501 shares of the financial services provider’s stock after selling 15,995 shares during the period. Aberdeen Group plc owned about 0.08% of Fifth Third Bancorp worth $23,867,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FITB. Empowered Funds LLC increased its stake in Fifth Third Bancorp by 7.1% during the 1st quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock worth $543,000 after buying an additional 916 shares during the period. Woodline Partners LP boosted its position in Fifth Third Bancorp by 40.5% in the 1st quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock valued at $2,218,000 after buying an additional 16,323 shares during the last quarter. CWM LLC grew its stake in shares of Fifth Third Bancorp by 5.4% during the second quarter. CWM LLC now owns 20,674 shares of the financial services provider’s stock valued at $850,000 after acquiring an additional 1,059 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Fifth Third Bancorp by 11.9% during the second quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 263 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its position in shares of Fifth Third Bancorp by 5.1% during the second quarter. Koshinski Asset Management Inc. now owns 7,692 shares of the financial services provider’s stock worth $316,000 after acquiring an additional 372 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the transaction, the executive vice president owned 129,191 shares in the company, valued at approximately $6,265,763.50. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Up 0.4%

NASDAQ:FITB opened at $53.06 on Wednesday. The firm has a market capitalization of $35.08 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.07 and a beta of 0.99. The stock has a 50 day moving average of $49.97 and a 200-day moving average of $45.80. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $55.44. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%.The business had revenue of $3.82 billion for the quarter. Analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. Fifth Third Bancorp’s payout ratio is 45.20%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler increased their price target on Fifth Third Bancorp from $50.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Wolfe Research upped their target price on Fifth Third Bancorp from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Truist Financial increased their target price on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Weiss Ratings lowered shares of Fifth Third Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.56.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.