O Shaughnessy Asset Management LLC Boosts Position in Fifth Third Bancorp (NASDAQ:FITB)

O Shaughnessy Asset Management LLC increased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,290 shares of the financial services provider’s stock after acquiring an additional 9,850 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Fifth Third Bancorp were worth $5,170,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of Fifth Third Bancorp by 5.7% in the 3rd quarter. FMR LLC now owns 1,692,599 shares of the financial services provider’s stock worth $72,511,000 after purchasing an additional 91,574 shares during the period. Townsquare Capital LLC bought a new position in Fifth Third Bancorp in the third quarter worth about $804,000. Paloma Partners Management Co lifted its holdings in Fifth Third Bancorp by 201.6% in the third quarter. Paloma Partners Management Co now owns 14,400 shares of the financial services provider’s stock worth $617,000 after buying an additional 28,567 shares during the period. Benjamin Edwards Inc. boosted its position in Fifth Third Bancorp by 139.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 11,190 shares of the financial services provider’s stock valued at $479,000 after acquiring an additional 6,515 shares in the last quarter. Finally, Investment Management Corp of Ontario grew its holdings in shares of Fifth Third Bancorp by 49.3% during the 3rd quarter. Investment Management Corp of Ontario now owns 22,720 shares of the financial services provider’s stock worth $973,000 after acquiring an additional 7,500 shares during the period. Institutional investors own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction 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 transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on FITB. Piper Sandler restated an “overweight” rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Barclays upped their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Truist Financial upped their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $47.50.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $39.62 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average price of $41.88 and a 200-day moving average price of $43.47. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07. The firm has a market capitalization of $26.47 billion, a PE ratio of 12.62, a P/E/G ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp’s payout ratio is currently 47.13%.

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.