Mercer Global Advisors Inc. ADV Has $2.74 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Mercer Global Advisors Inc. ADV trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 44.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,805 shares of the financial services provider’s stock after selling 52,671 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Fifth Third Bancorp were worth $2,740,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Fifth Third Bancorp in the fourth quarter valued at $371,836,000. PL Capital Advisors LLC increased its holdings in Fifth Third Bancorp by 4,128.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider’s stock valued at $78,654,000 after buying an additional 1,816,320 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $53,508,000. First Trust Advisors LP lifted its holdings in shares of Fifth Third Bancorp by 12.1% during the 4th quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider’s stock worth $402,991,000 after acquiring an additional 1,027,044 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Fifth Third Bancorp during the 4th quarter worth about $38,971,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 1.7 %

NASDAQ:FITB opened at $36.63 on Wednesday. The company has a market cap of $24.47 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 1.42 and a beta of 0.89. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock’s fifty day moving average price is $37.29 and its two-hundred day moving average price is $42.02. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same quarter in the prior year, the firm posted $0.70 earnings per share. On average, analysts anticipate that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 46.98%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kevin P. Lavender sold 21,700 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the sale, the chief operating officer now owns 244,487 shares in the company, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. Stephens restated an “equal weight” rating and set a $51.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their price target on Fifth Third Bancorp from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, April 21st. Citigroup cut their price objective on Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Truist Financial reduced their target price on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.24.

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.