Ossiam Sells 32,881 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Ossiam cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 89.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,906 shares of the financial services provider’s stock after selling 32,881 shares during the period. Ossiam’s holdings in Fifth Third Bancorp were worth $165,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FITB. World Investment Advisors LLC purchased a new position in shares of Fifth Third Bancorp during the third quarter valued at approximately $263,000. Wilmington Savings Fund Society FSB bought a new stake in Fifth Third Bancorp in the 3rd quarter worth approximately $191,000. Tidal Investments LLC raised its stake in Fifth Third Bancorp by 10.0% during the 3rd quarter. Tidal Investments LLC now owns 24,952 shares of the financial services provider’s stock valued at $1,069,000 after buying an additional 2,265 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after buying an additional 409,292 shares during the period. Finally, 1ST Source Bank purchased a new position in shares of Fifth Third Bancorp in the 3rd quarter worth $211,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $35.08 on Thursday. The stock has a market cap of $23.43 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. The stock has a 50 day moving average price of $38.60 and a 200-day moving average price of $42.50. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. During the same quarter last year, the business earned $0.70 EPS. Equities analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.22%. Fifth Third Bancorp’s dividend payout ratio is 46.98%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FITB shares. Stephens reiterated an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. DA Davidson lowered their price objective on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley dropped 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 report on Thursday, March 13th. Truist Financial reduced their target price on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average price target of $46.24.

Insider Activity

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