Barclays PLC Has $118.57 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Barclays PLC lowered its position in Fifth Third Bancorp (NASDAQ:FITB) by 5.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,804,339 shares of the financial services provider’s stock after selling 158,195 shares during the quarter. Barclays PLC owned 0.42% of Fifth Third Bancorp worth $118,568,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake 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 worth $912,692,000 after buying an additional 812,385 shares in the last quarter. Geode Capital Management LLC raised its position in Fifth Third Bancorp by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider’s stock worth $715,219,000 after purchasing an additional 285,910 shares in the last quarter. Boston Partners lifted its stake in Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider’s stock worth $597,692,000 after purchasing an additional 823,803 shares during the period. Norges Bank bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at approximately $371,836,000. Finally, Franklin Resources Inc. raised its holdings in shares of Fifth Third Bancorp by 5.2% in the 4th quarter. Franklin Resources Inc. now owns 5,763,716 shares of the financial services provider’s stock worth $243,690,000 after buying an additional 287,342 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on FITB shares. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Barclays upped their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Robert W. Baird raised Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 target price on the stock in a report on Monday, April 7th. Morgan Stanley dropped their price target on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. Finally, Stephens restated an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $48.12.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $35.07 on Wednesday. The firm has a market capitalization of $23.43 billion, a P/E ratio of 11.17, a PEG ratio of 1.42 and a beta of 0.99. The business has a 50-day moving average of $39.73 and a 200-day moving average of $42.83. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 1 year low of $31.96 and a 1 year high of $49.07.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.22%. Fifth Third Bancorp’s dividend payout ratio is 47.13%.

Insider Activity

In other Fifth Third Bancorp 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO James C. Leonard sold 17,200 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction 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 position. The disclosure for this sale can be found here. 0.53% of the stock is owned by company insiders.

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.