Sumitomo Mitsui DS Asset Management Company Ltd Has $2.08 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in Fifth Third Bancorp (NASDAQ:FITB) by 36.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 60,387 shares of the financial services provider’s stock after selling 34,832 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Fifth Third Bancorp were worth $2,083,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of FITB. CWM LLC lifted its stake in Fifth Third Bancorp by 8.7% in the 3rd quarter. CWM LLC now owns 27,550 shares of the financial services provider’s stock valued at $698,000 after purchasing an additional 2,195 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Fifth Third Bancorp by 46.3% in the 3rd quarter. Global Retirement Partners LLC now owns 3,147 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 996 shares during the last quarter. SG Americas Securities LLC lifted its stake in Fifth Third Bancorp by 3.7% in the 3rd quarter. SG Americas Securities LLC now owns 40,267 shares of the financial services provider’s stock valued at $1,020,000 after purchasing an additional 1,442 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in Fifth Third Bancorp by 4.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 9,910 shares of the financial services provider’s stock valued at $251,000 after purchasing an additional 465 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Fifth Third Bancorp by 24.3% in the 3rd quarter. Private Trust Co. NA now owns 2,083 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 407 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays increased their price target on shares of Fifth Third Bancorp from $34.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Morgan Stanley reissued an “equal weight” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a report on Monday. Wells Fargo & Company increased their price target on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $40.00 price target (up from $39.00) on shares of Fifth Third Bancorp in a report on Monday. Finally, UBS Group reissued a “neutral” rating and issued a $39.00 price target (down from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $36.31.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $37.23 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $25.36 billion, a price-to-earnings ratio of 11.82, a P/E/G ratio of 1.40 and a beta of 1.27. The firm’s 50 day simple moving average is $35.42 and its 200 day simple moving average is $32.10. Fifth Third Bancorp has a 1 year low of $22.46 and a 1 year high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same quarter last year, the business posted $0.78 EPS. As a group, research analysts expect that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.35 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.76%. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following 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 Securities & Exchange Commission, which is accessible through this link. In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now owns 46,646 shares in the company, valued at $1,696,981.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the transaction, the chief operating officer now owns 229,344 shares in the company, valued at approximately $8,407,751.04. The disclosure for this sale can be found here. Insiders have sold 46,357 shares of company stock worth $1,693,888 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

About Fifth Third Bancorp

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.