Short Interest in Fifth Third Bancorp (NASDAQ:FITBI) Expands By 437.5%

Posted by Amy Steele on May 26th, 2023

Fifth Third Bancorp (NASDAQ:FITBI – Get Rating) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 81,700 shares, a growth of 437.5% from the April 30th total of 15,200 shares. Based on an average daily volume of 84,600 shares, the short-interest ratio is currently 1.0 days.

Fifth Third Bancorp Stock Up 0.0 %

FITBI stock traded up $0.01 during midday trading on Friday, reaching $24.58. 10,087 shares of the company’s stock traded hands, compared to its average volume of 87,833. Fifth Third Bancorp has a 52-week low of $21.08 and a 52-week high of $27.06. The stock’s 50-day moving average is $23.94 and its 200 day moving average is $24.73.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 29th were paid a $0.4141 dividend. The ex-dividend date of this dividend was Tuesday, March 28th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 6.74%.

Institutional Trading of Fifth Third Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. bought a new position in shares of Fifth Third Bancorp during the fourth quarter worth $37,000. Bartlett & Co. LLC boosted its position in shares of Fifth Third Bancorp by 10.3% during the fourth quarter. Bartlett & Co. LLC now owns 106,724 shares of the company’s stock worth $2,661,000 after acquiring an additional 9,925 shares during the last quarter. Finally, Connectus Wealth LLC bought a new position in shares of Fifth Third Bancorp during the third quarter worth $1,893,000.

About Fifth Third Bancorp

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Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact.