Loomis Sayles & Co. L P Takes $44,000 Position in Fifth Third Bancorp (NASDAQ:FITB)

Loomis Sayles & Co. L P bought a new position in Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, Holdings Channel reports. The firm bought 1,046 shares of the financial services provider’s stock, valued at approximately $44,000.

Several other large investors have also added to or reduced their stakes in FITB. PL Capital Advisors LLC lifted its position in shares of Fifth Third Bancorp by 4,128.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock valued at $78,654,000 after purchasing an additional 1,816,320 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Fifth Third Bancorp in the 4th quarter worth approximately $53,508,000. Raymond James Financial Inc. bought a new position in shares of Fifth Third Bancorp in the fourth quarter valued at approximately $38,971,000. Boston Partners increased its position in shares of Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock valued at $597,692,000 after acquiring an additional 823,803 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Fifth Third Bancorp by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock worth $912,692,000 after acquiring an additional 812,385 shares during the period. Institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on FITB shares. Wells Fargo & Company reduced their price objective on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday. Truist Financial raised their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Citigroup reduced their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. Finally, DA Davidson increased their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $46.64.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of the sale, the executive vice president now owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares in the company, valued at approximately $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. Company insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Up 1.0 %

FITB opened at $39.20 on Tuesday. 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 stock has a market cap of $26.19 billion, a PE ratio of 12.48, a P/E/G ratio of 1.42 and a beta of 1.21. The business’s fifty day simple moving average is $42.08 and its 200 day simple moving average is $43.52. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07.

Fifth Third Bancorp Announces Dividend

The company 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 $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

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.