Lee Danner & Bass Inc. Invests $86,000 in Fifth Third Bancorp (NASDAQ:FITB)

Lee Danner & Bass Inc. purchased a new position in Fifth Third Bancorp (NASDAQ:FITB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,030 shares of the financial services provider’s stock, valued at approximately $86,000.

Other hedge funds have also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth $25,000. Sierra Ocean LLC bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $28,000. BankPlus Trust Department bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $29,000. Midwest Capital Advisors LLC bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $33,000. Finally, Y.D. More Investments Ltd lifted its holdings in Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 449 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods increased their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Morgan Stanley lowered their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. Barclays raised their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, DA Davidson raised their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $47.36.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $39.48 on Friday. The stock has a market capitalization of $26.38 billion, a PE ratio of 12.57, a P/E/G ratio of 1.42 and a beta of 1.21. The business has a 50 day simple moving average of $42.53 and a two-hundred day simple moving average of $43.57. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 owns 244,487 shares of the company’s stock, 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. 0.53% of the stock is currently owned by company 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.