Capital Research Global Investors Acquires 295,490 Shares of Fifth Third Bancorp $FITB

Capital Research Global Investors increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,719,002 shares of the financial services provider’s stock after acquiring an additional 295,490 shares during the quarter. Capital Research Global Investors’ holdings in Fifth Third Bancorp were worth $254,782,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Fifth Third Bancorp by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 83,849,824 shares of the financial services provider’s stock valued at $3,448,743,000 after purchasing an additional 1,301,624 shares during the last quarter. Capital World Investors boosted its holdings in shares of Fifth Third Bancorp by 6.2% in the 3rd quarter. Capital World Investors now owns 30,830,308 shares of the financial services provider’s stock valued at $1,373,490,000 after purchasing an additional 1,803,861 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Fifth Third Bancorp by 1.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 23,306,918 shares of the financial services provider’s stock valued at $958,614,000 after buying an additional 398,517 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Fifth Third Bancorp by 16.6% during the second quarter. Invesco Ltd. now owns 20,677,686 shares of the financial services provider’s stock worth $850,473,000 after purchasing an additional 2,941,333 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Fifth Third Bancorp by 3.6% in the second quarter. Geode Capital Management LLC now owns 18,008,755 shares of the financial services provider’s stock valued at $737,728,000 after purchasing an additional 619,956 shares during the period. 83.79% of the stock is owned by institutional investors.

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 on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the sale, the executive vice president owned 129,191 shares in the company, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Trading Down 0.8%

Shares of FITB stock opened at $46.59 on Wednesday. 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 1-year low of $32.25 and a 1-year high of $55.44. The stock has a market capitalization of $42.02 billion, a PE ratio of 13.16, a P/E/G ratio of 0.95 and a beta of 0.96. The business has a 50-day moving average of $50.63 and a 200 day moving average of $46.62.

Analysts Set New Price Targets

FITB has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 in a research note on Wednesday, December 17th. 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 report on Wednesday, January 21st. Barclays lifted their price objective on shares of Fifth Third Bancorp from $51.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Weiss Ratings upgraded Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 26th. Finally, Wall Street Zen lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Seventeen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.91.

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.