Campbell & CO Investment Adviser LLC Sells 4,356 Shares of Fifth Third Bancorp $FITB

Campbell & CO Investment Adviser LLC lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 92,615 shares of the financial services provider’s stock after selling 4,356 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Fifth Third Bancorp were worth $3,631,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Jump Financial LLC grew its position in Fifth Third Bancorp by 382.2% in the 1st quarter. Jump Financial LLC now owns 30,049 shares of the financial services provider’s stock worth $1,178,000 after purchasing an additional 23,817 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Fifth Third Bancorp by 5.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 56,689 shares of the financial services provider’s stock worth $2,222,000 after purchasing an additional 2,799 shares during the period. AlphaQuest LLC grew its position in Fifth Third Bancorp by 234.3% in the 1st quarter. AlphaQuest LLC now owns 71,834 shares of the financial services provider’s stock worth $2,816,000 after purchasing an additional 50,348 shares during the period. Kestra Advisory Services LLC grew its position in Fifth Third Bancorp by 11.6% in the 1st quarter. Kestra Advisory Services LLC now owns 83,986 shares of the financial services provider’s stock worth $3,292,000 after purchasing an additional 8,699 shares during the period. Finally, Allstate Corp grew its position in Fifth Third Bancorp by 117.0% in the 1st quarter. Allstate Corp now owns 43,005 shares of the financial services provider’s stock worth $1,686,000 after purchasing an additional 23,190 shares during the period. Institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the subject of a number of research analyst reports. DA Davidson raised shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and lifted their target price for the stock from $42.00 to $47.00 in a research report on Monday, June 9th. TD Cowen initiated coverage on shares of Fifth Third Bancorp in a research report on Thursday, May 15th. They set a “buy” rating and a $52.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Tuesday, June 10th. Jefferies Financial Group initiated coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 21st. They set a “buy” rating and a $47.00 price objective for the company. Finally, Cowen initiated coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 14th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.80.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $44.79 on Friday. The business’s 50-day simple moving average is $42.06 and its two-hundred day simple moving average is $39.88. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $49.07. The stock has a market cap of $29.65 billion, a PE ratio of 13.91, a P/E/G ratio of 1.45 and a beta of 0.91. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.76.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.3%. Fifth Third Bancorp’s dividend payout ratio is 45.96%.

Fifth Third Bancorp declared that its board has authorized a share repurchase program on Monday, June 16th that allows the company to repurchase 100,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.