Allianz Asset Management GmbH Sells 21,050 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Allianz Asset Management GmbH reduced its position in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) by 30.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,161 shares of the financial services provider’s stock after selling 21,050 shares during the quarter. Allianz Asset Management GmbH’s holdings in Fifth Third Bancorp were worth $1,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FITB. Jump Financial LLC bought a new stake in Fifth Third Bancorp during the 3rd quarter valued at about $216,000. Pathstone Family Office LLC boosted its holdings in shares of Fifth Third Bancorp by 173.8% during the 3rd quarter. Pathstone Family Office LLC now owns 44,563 shares of the financial services provider’s stock valued at $1,132,000 after acquiring an additional 28,286 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Fifth Third Bancorp by 11.7% during the 3rd quarter. HighTower Advisors LLC now owns 140,937 shares of the financial services provider’s stock valued at $3,569,000 after acquiring an additional 14,791 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Fifth Third Bancorp by 0.7% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 815,889 shares of the financial services provider’s stock valued at $20,666,000 after acquiring an additional 5,541 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Fifth Third Bancorp by 15.3% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 136,905 shares of the financial services provider’s stock valued at $3,468,000 after acquiring an additional 18,186 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Trading Up 0.1 %

Fifth Third Bancorp stock opened at $36.13 on Monday. The stock has a market cap of $24.71 billion, a P/E ratio of 11.47, a PEG ratio of 2.50 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a 1 year low of $22.49 and a 1 year high of $39.14. The firm’s 50 day moving average price is $36.74 and its 200-day moving average price is $34.93.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The firm had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the business posted $0.78 earnings per share. On average, equities analysts predict that Fifth Third Bancorp will post 3.27 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.87%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a report on Monday, April 1st. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a report on Friday, May 31st. Wells Fargo & Company raised their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Morgan Stanley reissued an “equal weight” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price objective (up previously from $39.00) on shares of Fifth Third Bancorp in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.86.

View Our Latest Report on FITB

Insider Buying and Selling

In related news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the sale, the executive vice president now owns 139,422 shares in the company, valued at $5,072,172.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at $1,696,981.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jude Schramm sold 5,000 shares of Fifth Third Bancorp stock in a transaction on Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares of the company’s stock, valued at $5,072,172.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,357 shares of company stock worth $816,148. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITBFree Report).

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.