Ossiam Lowers Stake in Fifth Third Bancorp (NASDAQ:FITB)

Ossiam lessened its holdings in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 43.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,057 shares of the financial services provider’s stock after selling 61,188 shares during the quarter. Ossiam’s holdings in Fifth Third Bancorp were worth $2,727,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Capital World Investors grew its holdings in shares of Fifth Third Bancorp by 34.2% during the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock valued at $1,416,985,000 after buying an additional 10,472,392 shares during the last quarter. Invesco Ltd. boosted its position in shares of Fifth Third Bancorp by 8.4% during the third quarter. Invesco Ltd. now owns 19,428,232 shares of the financial services provider’s stock valued at $492,117,000 after buying an additional 1,500,653 shares during the last quarter. Boston Partners increased its holdings in Fifth Third Bancorp by 11.5% in the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after buying an additional 1,499,194 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Fifth Third Bancorp by 4.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,247,695 shares of the financial services provider’s stock worth $318,979,000 after buying an additional 393,489 shares during the last quarter. Finally, Norges Bank bought a new position in Fifth Third Bancorp during the 4th quarter valued at about $257,189,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $36.13 on Monday. Fifth Third Bancorp has a 52-week low of $22.49 and a 52-week high of $39.14. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm’s fifty day moving average is $36.74 and its 200 day moving average is $34.93. The company has a market cap of $24.71 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 2.50 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last announced its earnings results 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 period in the prior year, the company earned $0.78 EPS. Sell-side analysts forecast that Fifth Third Bancorp will post 3.27 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

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

Insider Activity

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at $5,134,575. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,357 shares of company stock valued at $816,148. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on FITB. Wells Fargo & Company boosted their price objective 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. Evercore ISI raised their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Morgan Stanley reiterated an “equal weight” rating and set a $36.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. DA Davidson boosted their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.86.

View Our Latest Stock Analysis on Fifth Third Bancorp

About Fifth Third Bancorp

(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.

See Also

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

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