Shell Asset Management Co. Has $87,000 Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Shell Asset Management Co. trimmed its position in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 18.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,415 shares of the financial services provider’s stock after selling 751 shares during the period. Shell Asset Management Co.’s holdings in Fifth Third Bancorp were worth $87,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Fifth Third Bancorp by 0.4% in the 2nd quarter. BlackRock Inc. now owns 59,032,045 shares of the financial services provider’s stock valued at $1,547,230,000 after buying an additional 262,637 shares during the last quarter. State Street Corp grew its stake in shares of Fifth Third Bancorp by 2.3% in the second quarter. State Street Corp now owns 31,753,969 shares of the financial services provider’s stock valued at $842,650,000 after buying an additional 709,615 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Fifth Third Bancorp by 2.1% in the second quarter. Geode Capital Management LLC now owns 15,184,460 shares of the financial services provider’s stock valued at $396,994,000 after buying an additional 310,306 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 valued at $376,413,000 after buying an additional 393,937 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Fifth Third Bancorp by 32.1% in the third quarter. Boston Partners now owns 13,076,541 shares of the financial services provider’s stock valued at $331,188,000 after buying an additional 3,176,903 shares in the last quarter. 77.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FITB has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on shares of Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Morgan Stanley lifted their price objective on shares of Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Royal Bank of Canada lifted their price objective on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods cut shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $33.00 to $37.00 in a research report on Tuesday, January 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Fifth Third Bancorp from $34.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.63.

View Our Latest Stock Report on FITB

Fifth Third Bancorp Trading Up 1.4 %

Shares of Fifth Third Bancorp stock opened at $34.11 on Tuesday. The firm has a 50-day moving average of $33.96 and a 200-day moving average of $28.90. The stock has a market cap of $23.23 billion, a PE ratio of 10.56, a PEG ratio of 1.28 and a beta of 1.27. Fifth Third Bancorp has a 52-week low of $22.11 and a 52-week high of $37.51. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.22. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $2.15 billion. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same quarter in the previous year, the firm earned $1.04 earnings per share. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.18 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date was Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 43.34%.

Fifth Third Bancorp Profile

(Free Report)

Fifth Third Bancorp operates as a diversified financial services company in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

See Also

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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