AQR Capital Management LLC Purchases 380,933 Shares of Fifth Third Bancorp (NASDAQ:FITB)

AQR Capital Management LLC raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 453.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 464,863 shares of the financial services provider's stock after acquiring an additional 380,933 shares during the quarter. AQR Capital Management LLC owned approximately 0.07% of Fifth Third Bancorp worth $19,654,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Investment Advisors LLC bought a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth about $263,000. Wilmington Savings Fund Society FSB bought a new position in Fifth Third Bancorp in the third quarter valued at about $191,000. Tidal Investments LLC lifted its holdings 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 worth $1,069,000 after buying an additional 2,265 shares during the period. Franklin Resources Inc. boosted its holdings in Fifth Third Bancorp by 8.1% in the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock valued at $242,713,000 after acquiring an additional 409,292 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Fifth Third Bancorp by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 821,531 shares of the financial services provider's stock worth $35,194,000 after acquiring an additional 14,137 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Trading Up 0.2 %

Shares of FITB traded up $0.08 during trading hours on Wednesday, hitting $36.71. The stock had a trading volume of 2,532,365 shares, compared to its average volume of 4,456,926. The firm has a market cap of $24.53 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.42 and a beta of 0.89. Fifth Third Bancorp has a 12-month low of $32.25 and a 12-month 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. The company's fifty day simple moving average is $37.16 and its 200 day simple moving average is $41.98.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. During the same period last year, the firm earned $0.70 earnings per share. Equities research analysts forecast that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.37 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.03%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Analyst Ratings Changes

FITB has been the topic of a number of analyst reports. Citigroup cut their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Barclays reduced their price target on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Royal Bank of Canada reaffirmed an "outperform" rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered their price objective on Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Stephens restated an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, March 5th. One 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.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $46.24.

Insider Activity

In related news, COO James C. Leonard sold 17,200 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the transaction, the chief operating officer now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

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.