Vista Investment Partners II LLC Buys New Position in Fifth Third Bancorp (NASDAQ:FITB)

Vista Investment Partners II LLC acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) in the fourth quarter, HoldingsChannel reports. The fund acquired 71,657 shares of the financial services provider’s stock, valued at approximately $3,030,000. Fifth Third Bancorp accounts for approximately 1.8% of Vista Investment Partners II LLC’s holdings, making the stock its 15th largest position.

Several other hedge funds also recently made changes to their positions in FITB. PL Capital Advisors LLC grew its holdings in shares of Fifth Third Bancorp by 4,128.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock worth $78,654,000 after acquiring an additional 1,816,320 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth about $38,971,000. Charles Schwab Investment Management Inc. raised its holdings in Fifth Third Bancorp by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider’s stock valued at $912,692,000 after acquiring an additional 812,385 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at approximately $28,490,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Fifth Third Bancorp by 76.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock worth $57,005,000 after acquiring an additional 575,449 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FITB shares. Wells Fargo & Company raised their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler reiterated 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. Barclays lifted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Truist Financial lifted their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $47.31.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Fifth Third Bancorp Stock Up 0.5 %

Shares of FITB opened at $40.06 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average price of $43.23 and a 200-day moving average price of $43.81. The firm has a market capitalization of $26.66 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 12-month low of $33.82 and a 12-month high of $49.07.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.69%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Fifth Third Bancorp Company 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.