Fifth Third Bancorp $FITB Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd lessened its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 29.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,497 shares of the financial services provider’s stock after selling 16,547 shares during the quarter. Vinva Investment Management Ltd’s holdings in Fifth Third Bancorp were worth $1,793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Empowered Funds LLC lifted its position in Fifth Third Bancorp by 7.1% during the 1st quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock worth $543,000 after acquiring an additional 916 shares in the last quarter. Woodline Partners LP grew its position in Fifth Third Bancorp by 40.5% in the first quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock valued at $2,218,000 after acquiring an additional 16,323 shares in the last quarter. Sigma Planning Corp grew its position in Fifth Third Bancorp by 23.8% in the second quarter. Sigma Planning Corp now owns 8,497 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 1,636 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of Fifth Third Bancorp during the second quarter valued at approximately $66,000. Finally, Modera Wealth Management LLC lifted its position in shares of Fifth Third Bancorp by 12.5% during the second quarter. Modera Wealth Management LLC now owns 9,002 shares of the financial services provider’s stock worth $370,000 after purchasing an additional 1,003 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. TD Cowen reiterated a “buy” rating and issued a $60.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, February 3rd. DA Davidson upped their price objective on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Royal Bank Of Canada raised their target price on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 5th. Seventeen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.91.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Trading Down 0.7%

FITB opened at $46.98 on Tuesday. The stock has a market capitalization of $42.37 billion, a PE ratio of 13.27, a P/E/G ratio of 0.96 and a beta of 0.96. The firm’s fifty day moving average price is $50.65 and its 200 day moving average price is $46.61. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $55.44.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.