Isthmus Partners LLC Sells 6,829 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Isthmus Partners LLC decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 316,262 shares of the financial services provider’s stock after selling 6,829 shares during the period. Fifth Third Bancorp makes up 1.6% of Isthmus Partners LLC’s holdings, making the stock its 20th largest position. Isthmus Partners LLC’s holdings in Fifth Third Bancorp were worth $13,372,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. PL Capital Advisors LLC grew its holdings in Fifth Third Bancorp by 4,128.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock valued at $78,654,000 after purchasing an additional 1,816,320 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Fifth Third Bancorp in the 4th quarter valued at $38,971,000. Charles Schwab Investment Management Inc. raised its holdings in Fifth Third Bancorp by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock worth $912,692,000 after acquiring an additional 812,385 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in Fifth Third Bancorp during the 3rd quarter worth $28,490,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Fifth Third Bancorp by 76.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock worth $57,005,000 after acquiring an additional 575,449 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Trading Up 0.5 %

Shares of FITB opened at $40.06 on Monday. The stock has a 50 day simple moving average of $43.23 and a 200-day simple moving average of $43.81. 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 stock has a market cap of $26.66 billion, a PE ratio of 12.76, a PEG ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.69%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Insider Transactions 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 dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following 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 can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp 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 transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

FITB has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Truist Financial raised their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Finally, Wells Fargo & Company increased their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. 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 MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $47.31.

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.