Livforsakringsbolaget Skandia Omsesidigt Buys 716 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Livforsakringsbolaget Skandia Omsesidigt grew its stake in Fifth Third Bancorp (NASDAQ:FITB) by 70.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,729 shares of the financial services provider’s stock after purchasing an additional 716 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Fifth Third Bancorp were worth $60,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB boosted its holdings in Fifth Third Bancorp by 57.5% in the fourth quarter. Nordea Investment Management AB now owns 737,397 shares of the financial services provider’s stock worth $25,551,000 after acquiring an additional 269,152 shares in the last quarter. Raymond James & Associates boosted its holdings in Fifth Third Bancorp by 11.7% in the fourth quarter. Raymond James & Associates now owns 661,215 shares of the financial services provider’s stock worth $22,805,000 after acquiring an additional 69,273 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Fifth Third Bancorp by 48.0% in the fourth quarter. International Assets Investment Management LLC now owns 350,894 shares of the financial services provider’s stock worth $12,102,000 after acquiring an additional 113,838 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Fifth Third Bancorp by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 14,860,365 shares of the financial services provider’s stock worth $376,413,000 after acquiring an additional 393,937 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in Fifth Third Bancorp by 4.3% in the third quarter. Natixis Advisors L.P. now owns 671,803 shares of the financial services provider’s stock worth $17,017,000 after acquiring an additional 27,610 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FITB has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Evercore ISI boosted their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Stephens restated an “equal weight” rating and issued a $41.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, March 19th. Robert W. Baird restated a “neutral” rating and issued a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Finally, Morgan Stanley boosted their price target on Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and a consensus target price of $35.63.

Fifth Third Bancorp Stock Performance

Shares of FITB opened at $36.25 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. The business has a 50-day simple moving average of $35.21 and a two-hundred day simple moving average of $31.78. The stock has a market cap of $24.69 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.30 and a beta of 1.27. Fifth Third Bancorp has a 52 week low of $22.46 and a 52 week high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same period in the previous year, the business earned $0.78 earnings per share. On average, analysts expect that Fifth Third Bancorp will post 3.19 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 43.34%.

Insiders Place Their Bets

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

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.