ABN Amro Investment Solutions Decreases Stock Holdings in Fifth Third Bancorp $FITB

ABN Amro Investment Solutions trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 14.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 80,836 shares of the financial services provider’s stock after selling 13,556 shares during the quarter. ABN Amro Investment Solutions’ holdings in Fifth Third Bancorp were worth $3,601,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank bought a new position in Fifth Third Bancorp during the 2nd quarter valued at approximately $357,440,000. Invesco Ltd. grew its position in shares of Fifth Third Bancorp by 16.6% in the 2nd quarter. Invesco Ltd. now owns 20,677,686 shares of the financial services provider’s stock worth $850,473,000 after buying an additional 2,941,333 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Fifth Third Bancorp by 1.6% during the second quarter. Vanguard Group Inc. now owns 83,849,824 shares of the financial services provider’s stock valued at $3,448,743,000 after buying an additional 1,301,624 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Fifth Third Bancorp during the second quarter valued at approximately $52,643,000. Finally, Franklin Resources Inc. raised its holdings in shares of Fifth Third Bancorp by 20.7% during the second quarter. Franklin Resources Inc. now owns 7,240,976 shares of the financial services provider’s stock valued at $297,821,000 after acquiring an additional 1,240,709 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FITB shares. Robert W. Baird lifted their price target on shares of Fifth Third Bancorp from $50.00 to $55.00 in a report on Wednesday, December 17th. Stephens raised their target price on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, December 18th. UBS Group reiterated a “buy” rating and set a $59.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, February 4th. Weiss Ratings downgraded shares of Fifth Third Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Finally, Truist Financial lifted their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.58.

Insider Activity

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the transaction, the executive vice president directly owned 129,191 shares of the company’s stock, valued at approximately $6,265,763.50. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Trading Down 0.6%

Shares of NASDAQ FITB opened at $52.86 on Monday. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a 50-day moving average of $49.66 and a 200 day moving average of $45.63. The stock has a market cap of $34.94 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 1.07 and a beta of 0.98.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. The business had revenue of $3.82 billion for the quarter. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s payout ratio is currently 45.20%.

About Fifth Third Bancorp

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.