Andra AP fonden Raises Stake in Fifth Third Bancorp (NASDAQ:FITB)

Andra AP fonden lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 1,645.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,000 shares of the financial services provider’s stock after purchasing an additional 187,600 shares during the period. Andra AP fonden’s holdings in Fifth Third Bancorp were worth $8,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp in the 4th quarter worth $25,000. Sierra Ocean LLC bought a new position in shares of Fifth Third Bancorp in the fourth quarter worth about $28,000. Venturi Wealth Management LLC grew its position in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares in the last quarter. BankPlus Trust Department purchased a new stake in shares of Fifth Third Bancorp during the fourth quarter worth about $29,000. Finally, Midwest Capital Advisors LLC bought a new stake in Fifth Third Bancorp during the 4th quarter valued at approximately $33,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $40.06 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $26.66 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.42 and a beta of 1.21. Fifth Third Bancorp has a 12 month low of $33.82 and a 12 month high of $49.07. The firm’s 50-day moving average is $43.23 and its 200 day moving average is $43.79.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FITB shares. Barclays increased their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. DA Davidson raised their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their price target on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Citigroup raised their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Stephens reissued an “equal weight” rating and set a $51.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $47.31.

Insider Buying and Selling

In related news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total transaction of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares in the company, valued at $10,820,994.62. This trade represents a 6.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

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.