E. Ohman J or Asset Management AB Has $1.12 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

E. Ohman J or Asset Management AB lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 28,500 shares of the financial services provider’s stock after selling 2,800 shares during the period. E. Ohman J or Asset Management AB’s holdings in Fifth Third Bancorp were worth $1,117,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp during the 4th quarter valued at about $28,000. BankPlus Trust Department acquired a new position in Fifth Third Bancorp during the 4th quarter valued at about $29,000. Quarry LP acquired a new position in Fifth Third Bancorp during the 4th quarter valued at about $29,000. Midwest Capital Advisors LLC bought a new position in shares of Fifth Third Bancorp during the 4th quarter worth approximately $33,000. Finally, REAP Financial Group LLC lifted its position in shares of Fifth Third Bancorp by 161.8% during the 4th quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider’s stock worth $33,000 after buying an additional 487 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

FITB has been the topic of several recent analyst reports. TD Cowen initiated coverage on shares of Fifth Third Bancorp in a research report on Thursday, May 15th. They set a “buy” rating and a $52.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Monday, February 10th. Keefe, Bruyette & Woods dropped their target price on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. Citigroup dropped their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Finally, DA Davidson dropped their target price on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

Fifth Third Bancorp Trading Up 2.9%

Fifth Third Bancorp stock opened at $39.41 on Friday. The stock has a market cap of $26.31 billion, a P/E ratio of 12.55, a PEG ratio of 1.42 and a beta of 0.90. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The firm’s fifty day moving average price is $36.65 and its 200-day moving average price is $40.98. 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 quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. The firm had revenue of $2.14 billion for 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 quarter in the prior year, the firm posted $0.70 earnings per share. Equities research analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.76%. Fifth Third Bancorp’s dividend payout ratio is presently 46.98%.

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.