Deprince Race & Zollo Inc. Has $36.55 Million Stock Position in Fifth Third Bancorp $FITB

Deprince Race & Zollo Inc. lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 820,475 shares of the financial services provider’s stock after selling 15,946 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Fifth Third Bancorp were worth $36,552,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FITB. Evolution Wealth Management Inc. bought a new position in Fifth Third Bancorp in the 2nd quarter valued at about $26,000. Activest Wealth Management boosted its position in shares of Fifth Third Bancorp by 1,043.3% during the 2nd quarter. Activest Wealth Management now owns 686 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 626 shares in the last quarter. Banque Transatlantique SA bought a new position in Fifth Third Bancorp in the first quarter valued at approximately $27,000. GoalVest Advisory LLC raised its position in Fifth Third Bancorp by 246.3% during the second quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 532 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in Fifth Third Bancorp during the second quarter worth $32,000. Institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In related news, Director Evan Bayh purchased 3,000 shares of Fifth Third Bancorp stock in a transaction on Monday, October 20th. The shares were purchased at an average price of $41.22 per share, for a total transaction of $123,660.00. Following the transaction, the director owned 84,942 shares of the company’s stock, valued at approximately $3,501,309.24. This represents a 3.66% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jude Schramm sold 2,250 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president directly owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the topic of several recent analyst reports. Jefferies Financial Group lifted their price target on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, December 19th. TD Cowen boosted their target price on Fifth Third Bancorp from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Wolfe Research increased their target price on shares of Fifth Third Bancorp from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Stephens lifted their price target on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. Finally, Evercore ISI dropped their price objective on shares of Fifth Third Bancorp from $49.00 to $47.00 in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.15.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $48.41 on Friday. The business has a 50 day moving average of $44.15 and a 200-day moving average of $43.44. The company has a market capitalization of $32.00 billion, a P/E ratio of 14.45, a P/E/G ratio of 0.98 and a beta of 0.99. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $48.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 EPS for the quarter. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. The business had revenue of $3.82 billion for the quarter. On average, equities research analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.60 annualized dividend and a dividend yield of 3.3%. Fifth Third Bancorp’s payout ratio is currently 47.76%.

Fifth Third Bancorp Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.