Vista Investment Partners II LLC Purchases New Position in Fifth Third Bancorp (NASDAQ:FITB)

Vista Investment Partners II LLC purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 71,657 shares of the financial services provider’s stock, valued at approximately $3,030,000. Fifth Third Bancorp accounts for approximately 1.8% of Vista Investment Partners II LLC’s holdings, making the stock its 15th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Boston Common Asset Management LLC increased its position in shares of Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after buying an additional 34,203 shares during the period. AMJ Financial Wealth Management grew its holdings in Fifth Third Bancorp by 4.2% in the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock worth $9,843,000 after purchasing an additional 9,401 shares during the period. Lockheed Martin Investment Management Co. purchased a new stake in Fifth Third Bancorp in the fourth quarter worth about $9,878,000. Smith Group Asset Management LLC purchased a new stake in Fifth Third Bancorp in the fourth quarter worth about $423,000. Finally, Icon Wealth Advisors LLC purchased a new stake in Fifth Third Bancorp in the third quarter worth about $541,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In other news, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated 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 directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

FITB has been the topic of a number of recent research reports. DA Davidson upped their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Piper Sandler restated an “overweight” rating and issued a $53.00 price objective (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Truist Financial upped their target price 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, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.31.

Fifth Third Bancorp Stock Performance

FITB opened at $40.06 on Monday. The firm has a market capitalization of $26.66 billion, a PE ratio of 12.76, a P/E/G ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07. The firm has a 50 day moving average of $43.23 and a two-hundred day moving average of $43.81. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.69%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Fifth Third Bancorp 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.