Nissay Asset Management Corp Japan ADV Sells 292 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Nissay Asset Management Corp Japan ADV lowered its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,896 shares of the financial services provider’s stock after selling 292 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Fifth Third Bancorp were worth $3,513,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp in the fourth quarter worth about $25,000. Sierra Ocean LLC purchased a new position in Fifth Third Bancorp in the fourth quarter worth about $28,000. BankPlus Trust Department purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $29,000. Quarry LP purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $29,000. Finally, Midwest Capital Advisors LLC purchased a new position in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $33,000. Institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stephens reissued an “equal weight” rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. DA Davidson decreased their price objective on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. decreased their price objective on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Robert W. Baird raised shares of Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and set a $47.00 price objective for the company in a report on Monday, April 7th. Finally, TD Cowen assumed coverage on shares of Fifth Third Bancorp in a report on Thursday. They set a “buy” rating and a $52.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.56.

Insider Activity at Fifth Third Bancorp

In related news, COO James C. Leonard sold 17,200 shares of the firm’s stock in a transaction on 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 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 legal filing with the SEC, which is accessible through this link. Also, EVP Kevin P. Lavender sold 21,700 shares of the firm’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 transaction, the executive vice president now directly owns 130,856 shares of the company’s stock, valued at $5,698,778.80. The trade was a 14.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $39.64 on Friday. The firm has a fifty day moving average price of $36.94 and a 200-day moving average price of $41.75. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $26.46 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $0.70 earnings per share. Equities analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.37 per share. The ex-dividend date was Monday, March 31st. This represents a $1.48 annualized dividend and a yield of 3.73%. Fifth Third Bancorp’s payout ratio is 46.98%.

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.