Royal London Asset Management Ltd. Purchases 4,329 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Royal London Asset Management Ltd. raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 267,758 shares of the financial services provider’s stock after purchasing an additional 4,329 shares during the period. Royal London Asset Management Ltd.’s holdings in Fifth Third Bancorp were worth $11,321,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Boston Common Asset Management LLC raised its position in shares of Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after acquiring an additional 34,203 shares in the last quarter. Boston Partners raised its position in shares of Fifth Third Bancorp by 6.2% in the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock worth $597,692,000 after acquiring an additional 823,803 shares in the last quarter. AMJ Financial Wealth Management raised its position in shares of Fifth Third Bancorp by 4.2% in the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock worth $9,843,000 after acquiring an additional 9,401 shares in the last quarter. Banco Santander S.A. bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth $357,000. Finally, Lockheed Martin Investment Management Co. bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth $9,878,000. 83.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FITB has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Keefe, Bruyette & Woods upped their target price on 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. DA Davidson upped their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Stephens reaffirmed an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $47.36.

Fifth Third Bancorp Stock Up 0.1 %

Shares of FITB opened at $39.48 on Friday. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week 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 capitalization of $26.38 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 1.42 and a beta of 1.21. The stock’s 50-day moving average price is $42.53 and its 200-day moving average price is $43.57.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.37 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.75%. Fifth Third Bancorp’s payout ratio is 47.13%.

Insider Transactions at Fifth Third Bancorp

In other news, COO James C. Leonard sold 17,200 shares of the company’s 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 sale, the chief operating officer now owns 244,487 shares in the company, valued at $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 available through 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. Company insiders own 0.53% of the company’s stock.

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.