Trexquant Investment LP Makes New $10.32 Million Investment in Fifth Third Bancorp (NASDAQ:FITB)

Trexquant Investment LP bought a new stake in Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 244,020 shares of the financial services provider’s stock, valued at approximately $10,317,000.

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

Fifth Third Bancorp Price Performance

FITB stock opened at $39.62 on Thursday. 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 firm has a 50 day moving average price of $41.88 and a 200-day moving average price of $43.47. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week high of $49.07. The firm has a market capitalization of $26.47 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Insiders Place Their Bets

In related 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 value of $945,035.00. Following the transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated 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 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. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

FITB has been the subject of several recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. DA Davidson increased their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Stephens reissued an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Wells Fargo & Company decreased their target price on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Finally, Barclays lifted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $47.50.

Fifth Third Bancorp Company 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.