National Pension Service Sells 93,779 Shares of Fifth Third Bancorp (NASDAQ:FITB)

National Pension Service trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,062,783 shares of the financial services provider’s stock after selling 93,779 shares during the period. National Pension Service’s holdings in Fifth Third Bancorp were worth $44,934,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FITB. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at $25,000. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $28,000. Venturi Wealth Management LLC raised its position in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares during the last quarter. BankPlus Trust Department bought a new position in Fifth Third Bancorp in the 4th quarter worth about $29,000. Finally, Midwest Capital Advisors LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter valued at about $33,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Up 0.4 %

Shares of FITB stock opened at $42.98 on Friday. Fifth Third Bancorp has a 12 month low of $33.48 and a 12 month high of $49.07. The stock has a market cap of $28.82 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a 50 day simple moving average of $43.42 and a two-hundred day simple moving average of $43.71.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.44%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. DA Davidson lifted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Truist Financial upped their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and an average price target of $46.75.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the company’s 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 sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

About Fifth Third Bancorp

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.