Virtu Financial LLC Takes Position in Fifth Third Bancorp (NASDAQ:FITB)

Virtu Financial LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 20,752 shares of the financial services provider’s stock, valued at approximately $877,000.

Several other hedge funds also recently added to or reduced their stakes in FITB. Thrivent Financial for Lutherans increased its holdings in shares of Fifth Third Bancorp by 10.1% during the third quarter. Thrivent Financial for Lutherans now owns 62,117 shares of the financial services provider’s stock valued at $2,661,000 after acquiring an additional 5,682 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Fifth Third Bancorp by 2.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,137 shares of the financial services provider’s stock worth $2,234,000 after buying an additional 1,216 shares during the period. Cerity Partners LLC raised its position in Fifth Third Bancorp by 2.1% during the 3rd quarter. Cerity Partners LLC now owns 280,617 shares of the financial services provider’s stock worth $12,022,000 after buying an additional 5,899 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in Fifth Third Bancorp by 11.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 11,459 shares of the financial services provider’s stock valued at $491,000 after acquiring an additional 1,179 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Fifth Third Bancorp by 11.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 83,238 shares of the financial services provider’s stock valued at $3,566,000 after acquiring an additional 8,613 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This trade represents a 14.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 completion of the transaction, the chief operating officer now directly owns 244,487 shares in the company, valued at $10,820,994.62. The trade was a 6.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Up 2.0 %

Shares of NASDAQ FITB opened at $40.25 on Tuesday. The company has a market capitalization of $26.89 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.42 and a beta of 1.21. 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 company has a 50 day simple moving average of $42.50 and a 200-day simple moving average of $43.57. Fifth Third Bancorp has a 1 year low of $33.82 and a 1 year high of $49.07.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.68%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Morgan Stanley lowered their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Keefe, Bruyette & Woods lifted their price target 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. Truist Financial upped their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, 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 report on Wednesday, January 22nd. 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.86.

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.