Argyle Capital Management LLC Purchases 1,400 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Argyle Capital Management LLC increased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 4.9% during the 4th quarter, Holdings Channel reports. The firm owned 30,000 shares of the financial services provider’s stock after buying an additional 1,400 shares during the period. Argyle Capital Management LLC’s holdings in Fifth Third Bancorp were worth $1,268,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Verus Capital Partners LLC lifted its stake in Fifth Third Bancorp by 12.2% in the fourth quarter. Verus Capital Partners LLC now owns 12,186 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 1,324 shares during the period. QRG Capital Management Inc. raised its holdings in Fifth Third Bancorp by 10.5% in the 4th quarter. QRG Capital Management Inc. now owns 79,384 shares of the financial services provider’s stock worth $3,356,000 after purchasing an additional 7,526 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Fifth Third Bancorp in the 4th quarter worth about $6,416,000. Mn Services Vermogensbeheer B.V. lifted its position in shares of Fifth Third Bancorp by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 265,500 shares of the financial services provider’s stock worth $11,225,000 after purchasing an additional 4,400 shares during the period. Finally, Carlson Capital L.P. bought a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at about $495,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $42.98 on Friday. Fifth Third Bancorp has a twelve month low of $33.48 and a twelve month high of $49.07. The company has a market capitalization of $28.82 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The firm has a 50 day moving average of $43.42 and a 200 day moving average of $43.71. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Insider Transactions at Fifth Third Bancorp

In other Fifth Third Bancorp 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. This represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on FITB. 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. Keefe, Bruyette & Woods raised their target price 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. Citigroup lifted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, DA Davidson boosted their target price on shares of 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 given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.75.

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.