LSV Asset Management Sells 433,300 Shares of Fifth Third Bancorp $FITB

LSV Asset Management reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 21.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,572,100 shares of the financial services provider’s stock after selling 433,300 shares during the quarter. LSV Asset Management owned approximately 0.24% of Fifth Third Bancorp worth $70,037,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Westside Investment Management Inc. grew its holdings in shares of Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 292 shares during the last quarter. Evolution Wealth Management Inc. acquired a new position in Fifth Third Bancorp during the 2nd quarter worth about $26,000. United Community Bank grew its holdings in Fifth Third Bancorp by 581.0% during the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 581 shares during the last quarter. Activest Wealth Management increased its position in Fifth Third Bancorp by 1,043.3% in the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 626 shares in the last quarter. Finally, GoalVest Advisory LLC raised its stake in shares of Fifth Third Bancorp by 246.3% in the second 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. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp 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 transaction, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Argus increased their price target on shares of Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Truist Financial increased their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Barclays lifted their target price on Fifth Third Bancorp from $51.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods upped their price target on Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Wednesday, January 21st. Finally, Evercore ISI raised their price target on Fifth Third Bancorp from $52.00 to $57.00 in a report on Thursday, February 5th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.58.

Fifth Third Bancorp Stock Performance

FITB stock opened at $53.16 on Friday. The business’s fifty day moving average is $49.51 and its 200-day moving average is $45.51. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68. The company has a market cap of $35.14 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 1.10 and a beta of 0.99. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 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 during the quarter. Equities research analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

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

Fifth Third Bancorp 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.