Campbell & CO Investment Adviser LLC Sells 71,314 Shares of Fifth Third Bancorp $FITB

Campbell & CO Investment Adviser LLC reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 77.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,301 shares of the financial services provider’s stock after selling 71,314 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Fifth Third Bancorp were worth $876,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Banque Transatlantique SA bought a new stake in shares of Fifth Third Bancorp in the first quarter worth about $27,000. Activest Wealth Management boosted its stake in Fifth Third Bancorp by 1,043.3% during the second quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after buying an additional 626 shares during the last quarter. Larson Financial Group LLC grew its holdings in Fifth Third Bancorp by 91.3% during the 1st quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider’s stock valued at $29,000 after buying an additional 357 shares in the last quarter. GoalVest Advisory LLC increased its stake in Fifth Third Bancorp by 246.3% in the 2nd quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 532 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FITB. DA Davidson raised their target price on shares of Fifth Third Bancorp from $47.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. UBS Group lifted their price objective on shares of Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Wolfe Research boosted their target price on shares of Fifth Third Bancorp from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Truist Financial increased their price target on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the company a “buy” rating in a report on Friday, September 12th. Finally, Piper Sandler dropped their price target on Fifth Third Bancorp from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $50.35.

Insiders Place Their Bets

In other Fifth Third Bancorp news, Director Evan Bayh bought 3,000 shares of Fifth Third Bancorp stock in a transaction on Monday, October 20th. The shares were acquired at an average price of $41.22 per share, for a total transaction of $123,660.00. Following the completion of the purchase, the director directly owned 84,942 shares in the company, valued at approximately $3,501,309.24. This trade represents a 3.66% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by insiders.

Fifth Third Bancorp Price Performance

FITB stock opened at $42.44 on Friday. The stock has a market cap of $28.05 billion, a PE ratio of 12.67, a P/E/G ratio of 1.14 and a beta of 0.98. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The company has a 50-day moving average price of $43.60 and a 200 day moving average price of $41.84. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.71.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $0.40 dividend. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.60 annualized dividend and a yield of 3.8%. Fifth Third Bancorp’s dividend payout ratio is currently 47.76%.

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.