Fifth Third Bancorp (NASDAQ:FITB) Position Boosted by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 424.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,353 shares of the financial services provider’s stock after purchasing an additional 15,662 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Fifth Third Bancorp were worth $720,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in shares of Fifth Third Bancorp by 34.2% in the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock valued at $1,416,985,000 after purchasing an additional 10,472,392 shares in the last quarter. Norges Bank purchased a new stake in Fifth Third Bancorp in the 4th quarter worth about $257,189,000. Smead Capital Management Inc. acquired a new stake in Fifth Third Bancorp during the 4th quarter worth about $67,354,000. Boston Partners grew its stake in Fifth Third Bancorp by 11.5% during the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock valued at $502,719,000 after acquiring an additional 1,499,194 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Fifth Third Bancorp by 341.8% in the 4th quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock valued at $66,521,000 after purchasing an additional 1,492,124 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the transaction, the executive vice president now owns 136,922 shares of the company’s stock, valued at $5,134,575. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the transaction, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total value of $93,750.00. Following the completion of the sale, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at $5,134,575. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

FITB stock opened at $36.85 on Thursday. The business’s fifty day moving average is $36.86 and its 200-day moving average is $35.69. The company has a market cap of $25.21 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 2.49 and a beta of 1.24. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. Fifth Third Bancorp has a twelve month low of $22.49 and a twelve month high of $39.14.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter last year, the firm earned $0.78 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 3.29 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 3.80%. Fifth Third Bancorp’s dividend payout ratio is presently 44.44%.

Analysts Set New Price Targets

A number of research analysts recently commented on FITB shares. DA Davidson boosted their price objective on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 price target on the stock in a research note on Friday, May 31st. Evercore ISI lowered their target price on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $40.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Finally, Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $38.15.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.