Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Cinctive Capital Management LP

Cinctive Capital Management LP lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 191.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,186 shares of the financial services provider’s stock after purchasing an additional 168,365 shares during the period. Cinctive Capital Management LP’s holdings in Fifth Third Bancorp were worth $10,832,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FITB. Eads & Heald Wealth Management lifted its position in Fifth Third Bancorp by 3.0% in the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 235 shares during the last quarter. Valley National Advisers Inc. grew its position in Fifth Third Bancorp by 3.6% in the 4th quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock valued at $285,000 after buying an additional 236 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Fifth Third Bancorp by 4.7% during the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after buying an additional 246 shares during the period. Brooklyn Investment Group raised its position in shares of Fifth Third Bancorp by 9.1% during the 4th quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock worth $131,000 after buying an additional 257 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Fifth Third Bancorp by 16.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider’s stock worth $79,000 after acquiring an additional 261 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

FITB opened at $38.93 on Wednesday. The stock’s 50 day simple moving average is $41.96 and its 200-day simple moving average is $43.49. 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 $26.01 billion, a PE ratio of 12.40, a P/E/G 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is 47.13%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the sale, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares of the company’s stock, valued at $5,698,778.80. This represents 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 insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on FITB shares. Citigroup cut their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Morgan Stanley cut their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Stephens reissued an “equal weight” rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, Barclays raised their price objective 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $47.50.

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.