Carlson Capital L.P. Invests $495,000 in Fifth Third Bancorp (NASDAQ:FITB)

Carlson Capital L.P. purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,700 shares of the financial services provider’s stock, valued at approximately $495,000. Fifth Third Bancorp accounts for approximately 0.3% of Carlson Capital L.P.’s portfolio, making the stock its 23rd largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. PL Capital Advisors LLC increased its stake in Fifth Third Bancorp by 4,128.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock valued at $78,654,000 after acquiring an additional 1,816,320 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 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 stake in Fifth Third Bancorp during the third quarter valued at approximately $28,490,000. Teachers Retirement System of The State of Kentucky boosted its holdings in Fifth Third Bancorp by 76.2% during 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 in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in 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 purchasing an additional 409,292 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Down 0.4 %

Shares of FITB opened at $42.83 on Thursday. The firm has a market capitalization of $28.72 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.42 and a beta of 1.23. 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 business’s fifty day moving average price is $43.41 and its two-hundred day moving average price is $43.71. Fifth Third Bancorp has a 52 week low of $33.32 and a 52 week high of $49.07.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 47.13%.

Analyst Ratings Changes

FITB has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Barclays lifted their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup boosted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods increased their price target on 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, Wells Fargo & Company increased their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.75.

Insider Activity

In other news, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

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.