Livforsakringsbolaget Skandia Omsesidigt Acquires 716 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 70.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,729 shares of the financial services provider’s stock after acquiring an additional 716 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Fifth Third Bancorp were worth $60,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FITB. GoalVest Advisory LLC grew its position in Fifth Third Bancorp by 145.5% in the fourth quarter. GoalVest Advisory LLC now owns 945 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 560 shares during the last quarter. Denali Advisors LLC bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $36,000. Clear Street Markets LLC grew its position in Fifth Third Bancorp by 93.4% in the first quarter. Clear Street Markets LLC now owns 1,340 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 647 shares during the last quarter. Financial Management Professionals Inc. grew its position in Fifth Third Bancorp by 1,000.0% in the fourth quarter. Financial Management Professionals Inc. now owns 1,100 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,000 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $38,000. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley lifted their price target on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Robert W. Baird reissued a “neutral” rating and set a $32.00 price target on shares of Fifth Third Bancorp in a research note on Monday, April 1st. Wells Fargo & Company lifted their price target on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Keefe, Bruyette & Woods lifted their price target on Fifth Third Bancorp from $37.00 to $39.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada lifted their price target on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $35.63.

Fifth Third Bancorp Stock Up 5.9 %

FITB stock opened at $36.25 on Friday. The stock’s fifty day simple moving average is $35.21 and its two-hundred day simple moving average is $31.78. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. Fifth Third Bancorp has a 1-year low of $22.46 and a 1-year high of $37.41. The stock has a market cap of $24.69 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.30 and a beta of 1.27.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same period in the previous year, the company earned $0.78 EPS. Analysts expect that Fifth Third Bancorp will post 3.19 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.86%. Fifth Third Bancorp’s dividend payout ratio is presently 43.34%.

Insider Activity

In other news, 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 transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at approximately $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $181,900.00. Following the transaction, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The disclosure for this sale can be found here. 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.