Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 25.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,933 shares of the financial services provider’s stock after buying an additional 43,667 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Fifth Third Bancorp were worth $7,344,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. GoalVest Advisory LLC increased its holdings in shares of Fifth Third Bancorp by 145.5% during the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 560 shares during the period. Denali Advisors LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $36,000. Financial Management Professionals Inc. increased its holdings in shares of Fifth Third Bancorp by 1,000.0% during the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,000 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $38,000. Finally, Covestor Ltd increased its holdings in shares of Fifth Third Bancorp by 43.9% during the first quarter. Covestor Ltd now owns 1,219 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 372 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $36.66, for a total value of $971,490.00. Following the sale, the chief operating officer now directly owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Down 0.9 %

NASDAQ:FITB opened at $34.53 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.96. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41. The firm has a market capitalization of $23.52 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 1.32 and a beta of 1.27. The stock has a fifty day simple moving average of $35.09 and a 200 day simple moving average of $31.49.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the company posted $1.04 EPS. Sell-side analysts forecast that Fifth Third Bancorp will post 3.19 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 4.05%. Fifth Third Bancorp’s payout ratio is presently 43.34%.

Analyst Ratings Changes

FITB has been the topic of a number of research analyst reports. Morgan Stanley raised their price target on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Barclays raised their price target on Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Stephens reissued an “equal weight” rating and set a $41.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. UBS Group reaffirmed a “neutral” rating and set a $39.00 target price (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Finally, Wells Fargo & Company lifted their target price on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $35.63.

Fifth Third Bancorp Company 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.