American Century Companies Inc. Trims Stock Position in Fifth Third Bancorp $FITB

American Century Companies Inc. decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 3.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 402,907 shares of the financial services provider’s stock after selling 14,219 shares during the period. American Century Companies Inc. owned 0.06% of Fifth Third Bancorp worth $17,950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Huntington National Bank lifted its holdings in shares of Fifth Third Bancorp by 1.6% in the 3rd quarter. Huntington National Bank now owns 123,225 shares of the financial services provider’s stock worth $5,490,000 after buying an additional 2,000 shares during the period. DNB Asset Management AS raised its holdings in shares of Fifth Third Bancorp by 5.3% in the third quarter. DNB Asset Management AS now owns 127,928 shares of the financial services provider’s stock valued at $5,699,000 after acquiring an additional 6,440 shares in the last quarter. Choreo LLC raised its holdings in shares of Fifth Third Bancorp by 4.2% in the third quarter. Choreo LLC now owns 14,513 shares of the financial services provider’s stock valued at $652,000 after acquiring an additional 581 shares in the last quarter. Advisor OS LLC purchased a new stake in Fifth Third Bancorp in the third quarter worth about $216,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Fifth Third Bancorp by 1.2% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,309,923 shares of the financial services provider’s stock worth $58,357,000 after acquiring an additional 15,290 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $46.59 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The company’s fifty day moving average price is $50.63 and its 200-day moving average price is $46.62. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $55.44. The firm has a market capitalization of $42.02 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.95 and a beta of 0.96.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the firm’s stock in a transaction that occurred on 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 directly owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FITB. Wolfe Research raised their target price on shares of Fifth Third Bancorp from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. UBS Group reiterated a “buy” rating and set a $59.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, February 4th. Robert W. Baird lifted their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 in a report on Wednesday, December 17th. Janney Montgomery Scott boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $56.25 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company upped their target price on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $56.91.

Fifth Third Bancorp Company Profile

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.