Mesirow Financial Investment Management Inc. Sells 40,637 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Mesirow Financial Investment Management Inc. reduced its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 586,337 shares of the financial services provider’s stock after selling 40,637 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Fifth Third Bancorp were worth $24,790,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Andra AP fonden lifted its holdings in Fifth Third Bancorp by 1,645.6% during the 4th quarter. Andra AP fonden now owns 199,000 shares of the financial services provider’s stock worth $8,414,000 after purchasing an additional 187,600 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in Fifth Third Bancorp by 3.1% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 13,083 shares of the financial services provider’s stock worth $558,000 after purchasing an additional 392 shares during the last quarter. Callan Family Office LLC raised its holdings in Fifth Third Bancorp by 6.3% in the 4th quarter. Callan Family Office LLC now owns 87,746 shares of the financial services provider’s stock valued at $3,710,000 after acquiring an additional 5,195 shares in the last quarter. Candriam S.C.A. raised its holdings in Fifth Third Bancorp by 603.0% in the 4th quarter. Candriam S.C.A. now owns 565,162 shares of the financial services provider’s stock valued at $23,895,000 after acquiring an additional 484,773 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in Fifth Third Bancorp by 36.0% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 11,794 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 3,120 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kevin P. Lavender sold 21,700 shares of the company’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 sale, the executive vice president now owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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 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. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

FITB has been the subject of several analyst reports. Keefe, Bruyette & Woods lifted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Stephens reaffirmed an “equal weight” rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday. Citigroup lifted their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays boosted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.31.

Fifth Third Bancorp Trading Down 1.5 %

Shares of FITB stock opened at $39.86 on Friday. The firm has a market capitalization of $26.53 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.42 and a beta of 1.21. 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 stock’s fifty day simple moving average is $43.29 and its 200 day simple moving average is $43.77.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.71%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 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.