Jupiter Asset Management Ltd. Acquires Shares of 1,265,560 Fifth Third Bancorp (NASDAQ:FITB)

Jupiter Asset Management Ltd. acquired a new stake in Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,265,560 shares of the financial services provider’s stock, valued at approximately $53,508,000. Jupiter Asset Management Ltd. owned about 0.19% of Fifth Third Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Boston Common Asset Management LLC boosted its stake in Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after acquiring an additional 34,203 shares during the last quarter. AMJ Financial Wealth Management boosted its position in shares of Fifth Third Bancorp by 4.2% during the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider’s stock worth $9,843,000 after purchasing an additional 9,401 shares in the last quarter. Lockheed Martin Investment Management Co. bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth $9,878,000. Smith Group Asset Management LLC bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth $423,000. Finally, Icon Wealth Advisors LLC bought a new position in shares of Fifth Third Bancorp during the third quarter worth $541,000. 83.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Stephens reissued an “equal weight” rating and set a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. DA Davidson lifted their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. One research 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 MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $47.31.

Fifth Third Bancorp Stock Down 2.7 %

Fifth Third Bancorp stock opened at $38.23 on Wednesday. The firm has a market capitalization of $25.54 billion, a PE ratio of 12.18, a P/E/G ratio of 1.42 and a beta of 1.21. The company’s 50-day moving average is $43.08 and its 200-day moving average is $43.77. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. The trade was a 14.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO James C. Leonard sold 17,200 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp 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.