PNC Financial Services Group Inc. Has $11.14 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

PNC Financial Services Group Inc. lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 263,510 shares of the financial services provider’s stock after buying an additional 2,471 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Fifth Third Bancorp were worth $11,141,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of FITB. Charles Schwab Investment Management Inc. boosted 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 valued at $912,692,000 after acquiring an additional 812,385 shares during the period. Franklin Resources Inc. lifted its position in shares of Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after purchasing an additional 409,292 shares during the last quarter. Smead Capital Management Inc. boosted its stake in Fifth Third Bancorp by 3.5% during the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock valued at $95,278,000 after purchasing an additional 75,024 shares during the period. PL Capital Advisors LLC grew its holdings in 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 valued at $78,654,000 after buying an additional 1,816,320 shares during the last quarter. Finally, Zacks Investment Management increased its position in Fifth Third Bancorp by 10.0% in the 3rd quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock worth $74,450,000 after buying an additional 158,067 shares during the period. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Down 2.7 %

Shares of NASDAQ FITB opened at $38.23 on Wednesday. Fifth Third Bancorp has a 52-week low of $33.82 and a 52-week high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The business has a fifty day moving average of $43.08 and a two-hundred day moving average of $43.77. The stock has a market cap of $25.54 billion, a PE ratio of 12.18, a PEG ratio of 1.42 and a beta of 1.21.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays increased their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Citigroup increased their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. Truist Financial increased their target price on shares of 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, Piper Sandler reissued 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.31.

Insider Buying and Selling

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business’s 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 directly owns 130,856 shares of the company’s stock, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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.