Keeler Thomas Management LLC Sells 5,239 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Keeler Thomas Management LLC decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 57,236 shares of the financial services provider’s stock after selling 5,239 shares during the period. Keeler Thomas Management LLC’s holdings in Fifth Third Bancorp were worth $2,420,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FITB. Prasad Wealth Partners LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at about $721,000. BankPlus Trust Department purchased a new stake in shares of Fifth Third Bancorp in the fourth quarter worth about $29,000. Impax Asset Management Group plc boosted its stake in Fifth Third Bancorp by 499.2% during the fourth quarter. Impax Asset Management Group plc now owns 150,396 shares of the financial services provider’s stock valued at $6,359,000 after buying an additional 125,296 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in Fifth Third Bancorp during the 4th quarter valued at approximately $33,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Fifth Third Bancorp by 1.1% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 179,444 shares of the financial services provider’s stock worth $7,587,000 after acquiring an additional 2,000 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Up 0.3 %

Shares of FITB stock opened at $42.99 on Tuesday. Fifth Third Bancorp has a fifty-two week low of $33.03 and a fifty-two week high of $49.07. The firm has a market capitalization of $28.83 billion, a PE ratio of 13.69, a P/E/G 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 stock’s 50-day simple moving average is $43.44 and its 200-day simple moving average is $43.69.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.44%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Analysts Set New Price Targets

A number of research firms have recently commented on FITB. Citigroup increased their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods boosted 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 report on Wednesday, December 4th. Truist Financial upped their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, January 22nd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.75.

Insider Buying and Selling

In related news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated 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 in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the stock in a transaction that occurred 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 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. 0.50% of the stock is owned by corporate insiders.

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.