ABN Amro Investment Solutions Trims Stock Position in Fifth Third Bancorp $FITB

ABN Amro Investment Solutions lessened its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 14.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,836 shares of the financial services provider’s stock after selling 13,556 shares during the period. ABN Amro Investment Solutions’ holdings in Fifth Third Bancorp were worth $3,601,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FITB. Evolution Wealth Management Inc. bought a new position in shares of Fifth Third Bancorp in the second quarter worth $26,000. Westside Investment Management Inc. boosted its stake in Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after buying an additional 292 shares during the period. United Community Bank grew its position in Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after buying an additional 581 shares in the last quarter. GoalVest Advisory LLC increased its stake in Fifth Third Bancorp by 246.3% in the 2nd quarter. GoalVest Advisory LLC now owns 748 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 532 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the 2nd quarter valued at about $32,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FITB. Piper Sandler boosted their price objective on Fifth Third Bancorp from $50.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Wolfe Research lifted their target price on shares of Fifth Third Bancorp from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Citigroup boosted their price target on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. DA Davidson increased their price target on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Robert W. Baird lifted their price objective on shares of Fifth Third Bancorp from $50.00 to $55.00 in a report on Wednesday, December 17th. Sixteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $56.58.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $52.86 on Monday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68. The stock has a market cap of $34.94 billion, a PE ratio of 14.93, a PEG ratio of 1.07 and a beta of 0.98. The company’s fifty day moving average is $49.66 and its 200 day moving average is $45.63. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. The business had revenue of $3.82 billion during the quarter. Research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.0%. The ex-dividend date was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 45.20%.

Insider Buying and Selling

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the sale, the executive vice president owned 129,191 shares in the company, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.

Fifth Third Bancorp 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.