Sumitomo Mitsui Trust Holdings Inc. Has $65.70 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,904,833 shares of the financial services provider’s stock after buying an additional 73,675 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of Fifth Third Bancorp worth $65,698,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Penserra Capital Management LLC lifted its stake in shares of Fifth Third Bancorp by 8.7% in the 4th quarter. Penserra Capital Management LLC now owns 3,568 shares of the financial services provider’s stock valued at $116,000 after purchasing an additional 285 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Fifth Third Bancorp by 1.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 18,752 shares of the financial services provider’s stock worth $599,000 after buying an additional 321 shares during the last quarter. Independence Bank of Kentucky grew its position in shares of Fifth Third Bancorp by 21.1% during the 4th quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider’s stock worth $70,000 after buying an additional 355 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Fifth Third Bancorp by 1.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,098 shares of the financial services provider’s stock valued at $823,000 after acquiring an additional 370 shares during the last quarter. Finally, Toroso Investments LLC raised its position in shares of Fifth Third Bancorp by 5.0% in the 4th quarter. Toroso Investments LLC now owns 7,844 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 371 shares during the period. 83.79% of the stock is owned by institutional investors.

Insider Transactions at Fifth Third Bancorp

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FITB shares. Royal Bank of Canada boosted their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Barclays boosted their price objective 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. UBS Group restated a “neutral” rating and set a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Finally, Evercore ISI lifted their price target on shares of Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and an average target price of $35.63.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $34.22 on Friday. The company’s fifty day simple moving average is $35.16 and its 200-day simple moving average is $31.70. 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 firm has a market cap of $23.31 billion, a PE ratio of 10.59, a P/E/G ratio of 1.29 and a beta of 1.27. Fifth Third Bancorp has a 12 month low of $22.46 and a 12 month high of $37.41.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.15 billion. Fifth Third Bancorp had a net margin of 18.58% and a return on equity of 16.25%. During the same quarter in the previous year, the firm posted $1.04 earnings per share. Equities research analysts expect that Fifth Third Bancorp will post 3.19 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Wednesday, March 27th. Fifth Third Bancorp’s dividend payout ratio is presently 43.34%.

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.