Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Stock Position in Fifth Third Bancorp $FITB

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 16.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,944 shares of the financial services provider’s stock after selling 20,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Fifth Third Bancorp were worth $4,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in FITB. Empowered Funds LLC boosted its stake in Fifth Third Bancorp by 7.1% during the first quarter. Empowered Funds LLC now owns 13,864 shares of the financial services provider’s stock valued at $543,000 after buying an additional 916 shares during the period. Woodline Partners LP raised its holdings in shares of Fifth Third Bancorp by 40.5% in the 1st quarter. Woodline Partners LP now owns 56,592 shares of the financial services provider’s stock valued at $2,218,000 after acquiring an additional 16,323 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Fifth Third Bancorp by 1.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 76,202 shares of the financial services provider’s stock valued at $3,134,000 after acquiring an additional 1,257 shares during the last quarter. Swedbank AB grew its holdings in shares of Fifth Third Bancorp by 7.4% during the second quarter. Swedbank AB now owns 284,396 shares of the financial services provider’s stock worth $11,697,000 after purchasing an additional 19,629 shares in the last quarter. Finally, Wedmont Private Capital increased its position in shares of Fifth Third Bancorp by 5.4% in the second quarter. Wedmont Private Capital now owns 9,831 shares of the financial services provider’s stock worth $427,000 after purchasing an additional 504 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FITB has been the subject of several research analyst reports. Argus lifted their target price on shares of Fifth Third Bancorp from $46.00 to $49.00 in a research report on Tuesday, October 7th. The Goldman Sachs Group lifted their price objective on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Citigroup increased their target price on Fifth Third Bancorp from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. Robert W. Baird raised their price target on Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Finally, UBS Group upgraded Fifth Third Bancorp from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.00.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $49.16 on Monday. The company has a 50-day simple moving average of $46.04 and a two-hundred day simple moving average of $44.36. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month high of $50.47. The firm has a market cap of $32.50 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 0.86 and a beta of 0.97. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.71.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The company had revenue of $3.82 billion during the quarter. Fifth Third Bancorp had a return on equity of 13.41% and a net margin of 18.67%. On average, equities analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is 47.76%.

Insider Activity

In related news, EVP Jude Schramm sold 2,250 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $48.50, for a total transaction of $109,125.00. Following the completion of the sale, the executive vice president directly owned 129,191 shares in the company, valued at $6,265,763.50. This represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.