Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 205,254 shares of the financial services provider’s stock after buying an additional 416 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Fifth Third Bancorp were worth $8,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC acquired a new position in shares of Fifth Third Bancorp during the fourth quarter valued at about $25,000. Sierra Ocean LLC purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth $28,000. BankPlus Trust Department acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the third quarter valued at $36,000. Finally, Midwest Capital Advisors LLC acquired a new position in shares of Fifth Third Bancorp in the 4th quarter valued at $33,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on FITB. Wells Fargo & Company dropped their price target on Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday. Barclays increased their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Morgan Stanley cut their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, Citigroup lowered their price target on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. One 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’s stock. According to data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus price target of $46.64.

Fifth Third Bancorp Stock Up 1.0 %

FITB stock opened at $39.20 on Tuesday. Fifth Third Bancorp has a 52 week low of $33.82 and a 52 week high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a 50-day simple moving average of $42.08 and a 200-day simple moving average of $43.52. The stock has a market capitalization of $26.19 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.78%. Fifth Third Bancorp’s payout ratio is currently 47.13%.

Insider Activity

In other news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at approximately $5,698,778.80. This represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% 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.