Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 56,462 shares of the financial services provider’s stock after selling 5,655 shares during the period. Thrivent Financial for Lutherans’ holdings in Fifth Third Bancorp were worth $2,387,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FITB shares. Citigroup decreased their price target on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday. DA Davidson upped their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Morgan Stanley lowered their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Truist Financial raised their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Stephens reissued an “equal weight” rating and set a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.86.

Fifth Third Bancorp Stock Down 1.0 %

Shares of FITB stock opened at $39.77 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $26.57 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The business’s fifty day moving average is $42.29 and its 200-day moving average is $43.51. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07.

Fifth Third Bancorp Dividend Announcement

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 given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Fifth Third Bancorp 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.