Johnson Investment Counsel Inc. Boosts Position in Fifth Third Bancorp (NASDAQ:FITB)

Johnson Investment Counsel Inc. boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 6.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 146,140 shares of the financial services provider’s stock after purchasing an additional 8,552 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Fifth Third Bancorp were worth $6,179,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of FITB. Farther Finance Advisors LLC raised its holdings in Fifth Third Bancorp by 32.0% in the third quarter. Farther Finance Advisors LLC now owns 3,640 shares of the financial services provider’s stock valued at $156,000 after buying an additional 883 shares during the period. Concurrent Investment Advisors LLC acquired a new stake in Fifth Third Bancorp in the third quarter valued at approximately $215,000. Principal Financial Group Inc. grew its position in Fifth Third Bancorp by 1.8% in the third quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider’s stock valued at $35,194,000 after acquiring an additional 14,137 shares in the last quarter. Assetmark Inc. grew its position in Fifth Third Bancorp by 12.9% in the third quarter. Assetmark Inc. now owns 4,126 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 471 shares in the last quarter. Finally, Baker Avenue Asset Management LP acquired a new stake in Fifth Third Bancorp in the third quarter valued at approximately $225,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $39.28 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $26.24 billion, a PE ratio of 12.51, a price-to-earnings-growth 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 business’s fifty day moving average price is $43.16 and its 200 day moving average price is $43.80.

Analyst Ratings Changes

Several brokerages have issued reports on FITB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. DA Davidson increased their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Stephens reaffirmed an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods increased their price objective 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $47.31.

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 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 sale, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO James C. Leonard sold 17,200 shares of the firm’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company 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.