Livforsakringsbolaget Skandia Omsesidigt Grows Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 257.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,183 shares of the financial services provider’s stock after purchasing an additional 4,454 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Fifth Third Bancorp were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Fifth Third Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock valued at $3,012,472,000 after acquiring an additional 734,403 shares during the last quarter. Capital World Investors raised its stake in Fifth Third Bancorp by 13.4% during the first quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock worth $1,733,847,000 after purchasing an additional 5,512,333 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Fifth Third Bancorp by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider’s stock valued at $356,031,000 after purchasing an additional 281,494 shares during the last quarter. LSV Asset Management increased its holdings in shares of Fifth Third Bancorp by 2.3% during the 1st quarter. LSV Asset Management now owns 4,434,700 shares of the financial services provider’s stock worth $165,015,000 after buying an additional 99,593 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Fifth Third Bancorp by 3.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,701,734 shares of the financial services provider’s stock worth $62,096,000 after buying an additional 56,298 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity

In related news, Director Mitchell Stuart Feiger sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total transaction of $494,520.00. Following the completion of the sale, the director now directly owns 20,961 shares of the company’s stock, valued at $863,802.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the transaction, the director now owns 20,961 shares in the company, valued at approximately $863,802.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jude Schramm sold 20,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total value of $840,000.00. Following the completion of the sale, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,000 shares of company stock valued at $2,169,920. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FITB has been the topic of several research analyst reports. Argus lifted their price objective on Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Morgan Stanley raised their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Royal Bank of Canada upped their price target on shares of Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their price objective on Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Finally, StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.78.

Fifth Third Bancorp Stock Up 1.1 %

Fifth Third Bancorp stock opened at $44.32 on Tuesday. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $44.42. The firm has a fifty day moving average price of $41.71 and a two-hundred day moving average price of $38.88. The firm has a market cap of $30.32 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.04). Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. The company had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the previous year, the business posted $0.87 EPS. As a group, analysts forecast that Fifth Third Bancorp will post 3.31 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.37 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, September 30th. Fifth Third Bancorp’s payout ratio is currently 46.98%.

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.