AE Wealth Management LLC Reduces Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

AE Wealth Management LLC cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,133 shares of the financial services provider’s stock after selling 2,009 shares during the quarter. AE Wealth Management LLC’s holdings in Fifth Third Bancorp were worth $865,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FITB. National Pension Service increased its holdings in shares of Fifth Third Bancorp by 5.2% in the 3rd quarter. National Pension Service now owns 923,950 shares of the financial services provider’s stock valued at $25,298,000 after acquiring an additional 46,080 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Fifth Third Bancorp by 4.5% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,187,991 shares of the financial services provider’s stock valued at $87,287,000 after acquiring an additional 135,838 shares during the last quarter. Rational Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 122.5% in the 3rd quarter. Rational Advisors LLC now owns 7,166 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 3,946 shares during the last quarter. Boston Partners increased its holdings in shares of Fifth Third Bancorp by 4.1% in the 3rd quarter. Boston Partners now owns 11,098,097 shares of the financial services provider’s stock valued at $303,962,000 after acquiring an additional 442,099 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Fifth Third Bancorp by 0.3% in the 3rd quarter. California State Teachers Retirement System now owns 1,245,616 shares of the financial services provider’s stock valued at $34,105,000 after acquiring an additional 4,248 shares during the last quarter. Institutional investors own 78.68% of the company’s stock.

Shares of FITB opened at $29.45 on Tuesday. The company has a market cap of $20.90 billion, a P/E ratio of 9.69, a PEG ratio of 1.39 and a beta of 1.40. The stock has a fifty day moving average price of $30.39 and a 200 day moving average price of $28.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.87. Fifth Third Bancorp has a 12 month low of $24.17 and a 12 month high of $31.64.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.02. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.94 billion. Fifth Third Bancorp had a return on equity of 11.40% and a net margin of 24.36%. During the same period in the prior year, the business earned $0.64 EPS. As a group, research analysts anticipate that Fifth Third Bancorp will post 2.8 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 3.26%. Fifth Third Bancorp’s payout ratio is currently 37.80%.

In related news, EVP Philip Mchugh sold 36,382 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $30.56, for a total transaction of $1,111,833.92. Also, EVP Frank R. Forrest sold 7,500 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $30.53, for a total value of $228,975.00. Following the transaction, the executive vice president now owns 55,474 shares of the company’s stock, valued at $1,693,621.22. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

FITB has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price target on Fifth Third Bancorp from $32.00 to $30.50 and set a “neutral” rating for the company in a report on Thursday, October 10th. Deutsche Bank upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Friday, October 25th. Odeon Capital Group initiated coverage on Fifth Third Bancorp in a report on Friday, December 6th. They issued a “hold” rating for the company. Finally, Cfra upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. Fifth Third Bancorp presently has an average rating of “Hold” and an average price target of $31.70.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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

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