Barclays PLC Sells 1,389,347 Shares of Fifth Third Bancorp $FITB

Barclays PLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 35.2% in the fourth quarter, HoldingsChannel reports. The fund owned 2,557,899 shares of the financial services provider’s stock after selling 1,389,347 shares during the period. Barclays PLC’s holdings in Fifth Third Bancorp were worth $119,735,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of FITB. Harbor Investment Advisory LLC boosted its position in shares of Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 517 shares during the period. Leonteq Securities AG bought a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $30,000. Quest 10 Wealth Builders Inc. boosted its position in shares of Fifth Third Bancorp by 619.6% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 734 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 632 shares during the period. Salomon & Ludwin LLC boosted its position in shares of Fifth Third Bancorp by 77.6% in the fourth quarter. Salomon & Ludwin LLC now owns 737 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 322 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Fifth Third Bancorp in the fourth quarter valued at about $42,000. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

FITB has been the subject of several recent analyst reports. Robert W. Baird upped their price objective on shares of Fifth Third Bancorp from $56.00 to $58.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, May 4th. Stephens initiated coverage on shares of Fifth Third Bancorp in a research report on Monday. They set an “equal weight” rating and a $58.00 price objective for the company. Truist Financial set a $57.00 price objective on shares of Fifth Third Bancorp in a research report on Tuesday, April 21st. Finally, Morgan Stanley cut their price objective on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Moderate Buy” and an average target price of $57.34.

Fifth Third Bancorp Stock Down 3.1%

Shares of NASDAQ FITB opened at $53.02 on Tuesday. The company has a 50 day simple moving average of $49.95 and a 200 day simple moving average of $48.99. The firm has a market cap of $48.05 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.09 and a beta of 0.92. Fifth Third Bancorp has a 1 year low of $37.88 and a 1 year high of $55.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.83 and a quick ratio of 0.83.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.20. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same quarter last year, the business earned $0.71 EPS. On average, research analysts forecast that Fifth Third Bancorp will post 4.1 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 53.69%.

Insider Buying and Selling

In related news, EVP Kevin J. Khanna sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $50.77, for a total value of $304,620.00. Following the completion of the transaction, the executive vice president owned 76,299 shares in the company, valued at $3,873,700.23. This trade represents a 7.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter L. Sefzik sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $50.46, for a total transaction of $1,009,200.00. Following the completion of the transaction, the executive vice president owned 189,382 shares of the company’s stock, valued at approximately $9,556,215.72. This trade represents a 9.55% decrease in their position. The SEC filing for this sale provides additional information. 0.51% of the stock is owned by company insiders.

Fifth Third Bancorp Company 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.