Nordea Investment Management AB Sells 117,120 Shares of Fifth Third Bancorp $FITB

Nordea Investment Management AB cut its holdings in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 8.6% during the 3rd quarter, Holdings Channel reports. The fund owned 1,237,168 shares of the financial services provider’s stock after selling 117,120 shares during the period. Nordea Investment Management AB’s holdings in Fifth Third Bancorp were worth $54,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the business. St. Johns Investment Management Company LLC lifted its position in Fifth Third Bancorp by 4.3% during the third quarter. St. Johns Investment Management Company LLC now owns 24,775 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 1,019 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Fifth Third Bancorp by 5.1% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,557 shares of the financial services provider’s stock worth $1,005,000 after buying an additional 1,098 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Fifth Third Bancorp by 0.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,531,042 shares of the financial services provider’s stock valued at $68,208,000 after buying an additional 10,685 shares in the last quarter. MGO One Seven LLC grew its stake in shares of Fifth Third Bancorp by 9.4% during the 3rd quarter. MGO One Seven LLC now owns 33,549 shares of the financial services provider’s stock valued at $1,495,000 after acquiring an additional 2,879 shares during the period. Finally, Citizens Financial Group Inc. RI purchased a new stake in Fifth Third Bancorp in the 3rd quarter worth approximately $240,000. Institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of the 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 in the company, valued at $6,265,763.50. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Evan Bayh bought 3,000 shares of Fifth Third Bancorp stock in a transaction dated Monday, October 20th. The stock was acquired at an average price of $41.22 per share, for a total transaction of $123,660.00. Following the completion of the acquisition, the director owned 84,942 shares in the company, valued at approximately $3,501,309.24. The trade was a 3.66% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.53% of the company’s stock.

Fifth Third Bancorp Stock Up 0.9%

Shares of FITB stock opened at $48.57 on Thursday. The company’s fifty day simple moving average is $45.79 and its two-hundred day simple moving average is $44.25. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $50.47. The stock has a market cap of $32.11 billion, a P/E ratio of 14.50, a PEG ratio of 0.85 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:FITBGet Free Report) last issued its 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 return on equity of 13.41% and a net margin of 18.67%.The firm had revenue of $3.82 billion for the quarter. Analysts predict that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.3%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.76%.

More Fifth Third Bancorp News

Here are the key news stories impacting Fifth Third Bancorp this week:

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Cowen restated a “buy” rating on shares of Fifth Third Bancorp in a research report on Wednesday, January 7th. Stephens upped their target price on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Royal Bank Of Canada raised their price target on Fifth Third Bancorp from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, The Goldman Sachs Group upped their price objective on Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Read Our Latest Stock Analysis on Fifth Third Bancorp

Fifth Third Bancorp Profile

(Free Report)

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.

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

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