Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 0.4% during the 4th quarter, HoldingsChannel reports. The firm owned 373,380 shares of the financial services provider’s stock after acquiring an additional 1,492 shares during the period. Nisa Investment Advisors LLC’s holdings in Fifth Third Bancorp were worth $15,925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FITB. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fifth Third Bancorp by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after acquiring an additional 732,651 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in Fifth Third Bancorp during the 3rd quarter valued at about $28,490,000. Millennium Management LLC grew its position in Fifth Third Bancorp by 896.7% in the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock worth $23,678,000 after purchasing an additional 583,781 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Fifth Third Bancorp by 76.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock valued at $57,005,000 after purchasing an additional 575,449 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after buying an additional 409,292 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Ratings Changes

FITB has been the topic of several analyst reports. Piper Sandler restated an “overweight” rating and issued a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Barclays upped their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Truist Financial upped their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.14.

Fifth Third Bancorp Stock Down 2.1 %

Shares of Fifth Third Bancorp stock opened at $43.93 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07. The firm has a market capitalization of $29.46 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.93 and a beta of 1.24. The stock’s fifty day moving average is $44.91 and its 200-day moving average is $43.02.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

About Fifth Third Bancorp

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.