Sumitomo Mitsui Trust Holdings Inc. Has $65.70 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,904,833 shares of the financial services provider’s stock after purchasing an additional 73,675 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Fifth Third Bancorp were worth $65,698,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FITB. Norges Bank bought a new position in Fifth Third Bancorp during the 4th quarter valued at $185,924,000. BlackRock Inc. lifted its stake in Fifth Third Bancorp by 6.2% during the 1st quarter. BlackRock Inc. now owns 58,769,408 shares of the financial services provider’s stock valued at $1,565,617,000 after acquiring an additional 3,448,642 shares in the last quarter. Boston Partners lifted its stake in Fifth Third Bancorp by 32.1% during the 3rd quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock valued at $331,188,000 after acquiring an additional 3,176,903 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Fifth Third Bancorp during the 1st quarter valued at $73,081,000. Finally, Morgan Stanley lifted its stake in Fifth Third Bancorp by 18.8% during the 4th quarter. Morgan Stanley now owns 11,944,073 shares of the financial services provider’s stock valued at $391,885,000 after acquiring an additional 1,891,388 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total value of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 0.4 %

Shares of Fifth Third Bancorp stock opened at $34.22 on Friday. Fifth Third Bancorp has a 52-week low of $22.46 and a 52-week high of $37.41. The stock’s 50-day simple moving average is $35.16 and its 200 day simple moving average is $31.70. The stock has a market capitalization of $23.31 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same quarter in the previous year, the firm earned $1.04 EPS. As a group, research analysts anticipate that Fifth Third Bancorp will post 3.19 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is presently 43.34%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Stephens restated an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Morgan Stanley lifted their target price on Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Wells Fargo & Company lifted their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Barclays lifted their target price on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada lifted their target price on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $35.63.

Fifth Third Bancorp Profile

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.