Andra AP fonden Has $5.59 Million Stock Position in Fifth Third Bancorp $FITB

Andra AP fonden cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 26.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,500 shares of the financial services provider’s stock after selling 45,300 shares during the quarter. Andra AP fonden’s holdings in Fifth Third Bancorp were worth $5,591,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth approximately $357,440,000. Invesco Ltd. raised its position in Fifth Third Bancorp by 16.6% during the second quarter. Invesco Ltd. now owns 20,677,686 shares of the financial services provider’s stock worth $850,473,000 after acquiring an additional 2,941,333 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Fifth Third Bancorp by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 83,849,824 shares of the financial services provider’s stock valued at $3,448,743,000 after acquiring an additional 1,301,624 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Fifth Third Bancorp during the 2nd quarter worth about $52,643,000. Finally, Franklin Resources Inc. increased its stake in shares of Fifth Third Bancorp by 20.7% during the 2nd quarter. Franklin Resources Inc. now owns 7,240,976 shares of the financial services provider’s stock worth $297,821,000 after purchasing an additional 1,240,709 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FITB shares. Evercore lifted their target price on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Wall Street Zen downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. Barclays upped their price objective on shares of Fifth Third Bancorp from $51.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Finally, Robert W. Baird raised their target price on shares of Fifth Third Bancorp from $50.00 to $55.00 in a research note on Wednesday, December 17th. Seventeen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.56.

Fifth Third Bancorp Trading Down 4.8%

Shares of Fifth Third Bancorp stock opened at $49.47 on Friday. The firm has a market capitalization of $32.70 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.00 and a beta of 0.99. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average is $50.59 and its 200 day moving average is $46.34. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44.

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

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.60 annualized dividend and a yield of 3.2%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 45.20%.

Insider Activity

In related news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp 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 transaction, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.53% of the company’s stock.

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.