11,700 Shares in Fifth Third Bancorp (NASDAQ:FITB) Bought by Carlson Capital L.P.

Carlson Capital L.P. acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 4th quarter, Holdings Channel.com reports. The firm acquired 11,700 shares of the financial services provider’s stock, valued at approximately $495,000. Fifth Third Bancorp makes up 0.3% of Carlson Capital L.P.’s portfolio, making the stock its 23rd biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $25,000. Sierra Ocean LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $28,000. Venturi Wealth Management LLC raised its stake in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the period. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $29,000. Finally, Midwest Capital Advisors LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 0.4 %

Fifth Third Bancorp stock opened at $42.83 on Thursday. The stock has a 50-day simple moving average of $43.41 and a 200 day simple moving average of $43.71. 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 stock has a market capitalization of $28.72 billion, a P/E ratio of 13.64, a PEG ratio of 1.42 and a beta of 1.23. Fifth Third Bancorp has a 52 week low of $33.32 and a 52 week high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.46%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Insiders Place Their Bets

In other news, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 20th. The shares were 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 directly owns 130,856 shares in the company, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on 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 sale, the chief operating officer now owns 244,487 shares of the company’s stock, 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 0.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. 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 note on Wednesday, December 4th. Truist Financial raised their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. StockNews.com cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Barclays raised their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.75.

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.