Robeco Institutional Asset Management B.V. Sells 38,969 Shares of Fifth Third Bancorp $FITB

Robeco Institutional Asset Management B.V. cut its holdings in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 45.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,442 shares of the financial services provider’s stock after selling 38,969 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Fifth Third Bancorp were worth $2,174,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its position in Fifth Third Bancorp by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 292 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in Fifth Third Bancorp by 501.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 517 shares in the last quarter. United Community Bank lifted its holdings in shares of Fifth Third Bancorp by 581.0% during the 3rd quarter. United Community Bank now owns 681 shares of the financial services provider’s stock valued at $30,000 after buying an additional 581 shares during the period. Beacon Financial Strategies CORP bought a new position in shares of Fifth Third Bancorp during the 4th quarter valued at $46,000. Finally, Guerra Advisors Inc bought a new position in shares of Fifth Third Bancorp during the 3rd quarter valued at $51,000. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock opened at $50.34 on Friday. The company has a market capitalization of $45.59 billion, a PE ratio of 14.22, a P/E/G ratio of 1.02 and a beta of 0.95. The company has a 50 day moving average price of $48.65 and a 200-day moving average price of $46.83. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. Fifth Third Bancorp has a fifty-two week low of $32.79 and a fifty-two week high of $55.44.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.87. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.91 billion. Fifth Third Bancorp had a net margin of 19.50% and a return on equity of 13.53%. During the same quarter in the previous year, the firm posted $0.71 earnings per share. As a group, equities analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio is 45.20%.

Analysts Set New Price Targets

A number of equities analysts recently commented on FITB shares. Wells Fargo & Company raised their target price on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. JPMorgan Chase & Co. increased their price target on Fifth Third Bancorp from $50.50 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 7th. Keefe, Bruyette & Woods raised their price objective on Fifth Third Bancorp from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Wednesday, January 21st. Citigroup raised their price objective on Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Finally, Wall Street Zen raised shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.41.

Read Our Latest Report on FITB

Key Fifth Third Bancorp News

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About Fifth Third Bancorp

(Free Report)

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.

See Also

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

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