Carret Asset Management LLC Sells 1,900 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Carret Asset Management LLC lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.6% during the 4th quarter, HoldingsChannel reports. The fund owned 50,325 shares of the financial services provider’s stock after selling 1,900 shares during the quarter. Carret Asset Management LLC’s holdings in Fifth Third Bancorp were worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. VanWeelden Wealth Management LLC purchased a new position in shares of Fifth Third Bancorp during the 4th quarter worth $870,000. PGGM Investments boosted its stake in shares of Fifth Third Bancorp by 58.1% during the 4th quarter. PGGM Investments now owns 172,150 shares of the financial services provider’s stock worth $7,279,000 after acquiring an additional 63,229 shares during the last quarter. HBK Sorce Advisory LLC boosted its stake in shares of Fifth Third Bancorp by 3.8% during the 4th quarter. HBK Sorce Advisory LLC now owns 30,884 shares of the financial services provider’s stock worth $1,306,000 after acquiring an additional 1,137 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Fifth Third Bancorp by 78.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 250,045 shares of the financial services provider’s stock worth $10,682,000 after acquiring an additional 110,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Fifth Third Bancorp by 3.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,932 shares of the financial services provider’s stock worth $2,280,000 after acquiring an additional 1,795 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Barclays lifted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Stephens restated an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. Morgan Stanley lowered their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $47.36.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $37.48 on Friday. The company’s 50-day moving average price is $42.91 and its 200-day moving average price is $43.69. Fifth Third Bancorp has a twelve month low of $33.82 and a twelve month high of $49.07. 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 market cap of $25.04 billion, a PE ratio of 11.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

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.