Fifth Third Bancorp (NASDAQ:FITB) Holdings Lifted by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its position in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 4.0% in the 1st quarter, Holdings Channel.com reports. The firm owned 276,137 shares of the financial services provider’s stock after buying an additional 10,515 shares during the period. Asset Management One Co. Ltd.’s holdings in Fifth Third Bancorp were worth $10,825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of FITB. Advisor OS LLC bought a new position in Fifth Third Bancorp in the 4th quarter worth about $212,000. Carlson Capital L.P. bought a new position in Fifth Third Bancorp in the 4th quarter worth about $495,000. Mn Services Vermogensbeheer B.V. grew its position in Fifth Third Bancorp by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 265,500 shares of the financial services provider’s stock worth $11,225,000 after purchasing an additional 4,400 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Fifth Third Bancorp in the 4th quarter worth about $6,416,000. Finally, QRG Capital Management Inc. grew its position in Fifth Third Bancorp by 10.5% in the 4th quarter. QRG Capital Management Inc. now owns 79,384 shares of the financial services provider’s stock worth $3,356,000 after purchasing an additional 7,526 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 1.9%

FITB stock opened at $41.45 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market cap of $27.67 billion, a PE ratio of 13.16, a P/E/G ratio of 1.40 and a beta of 0.90. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The firm has a 50 day simple moving average of $37.94 and a 200 day simple moving average of $40.20.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.65% and a return on equity of 13.64%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the business posted $0.70 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Monday, June 16th that permits the company to buyback 100,000,000 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Monday, June 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 46.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Fifth Third Bancorp in a research note on Wednesday, May 21st. They issued a “buy” rating and a $47.00 price target for the company. Baird R W raised shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 7th. Barclays reduced their price target on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company upped their price target on shares of Fifth Third Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Moderate Buy” and an average price target of $47.53.

Read Our Latest Report on Fifth Third Bancorp

Fifth Third Bancorp Profile

(Free Report)

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.

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

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