Tredje AP fonden Has $14.27 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Tredje AP fonden boosted its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 468.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 364,049 shares of the financial services provider's stock after buying an additional 300,000 shares during the period. Tredje AP fonden owned approximately 0.05% of Fifth Third Bancorp worth $14,271,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP acquired a new position in shares of Fifth Third Bancorp during the 4th quarter worth approximately $29,000. HWG Holdings LP acquired a new position in shares of Fifth Third Bancorp during the 1st quarter worth approximately $27,000. Larson Financial Group LLC grew its position in shares of Fifth Third Bancorp by 91.3% during the 1st quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider's stock worth $29,000 after purchasing an additional 357 shares in the last quarter. REAP Financial Group LLC grew 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 purchasing an additional 487 shares in the last quarter. Finally, Grove Bank & Trust grew its position in shares of Fifth Third Bancorp by 60.7% during the 1st quarter. Grove Bank & Trust now owns 887 shares of the financial services provider's stock worth $35,000 after purchasing an additional 335 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Fifth Third Bancorp Trading Down 1.5%

NASDAQ FITB traded down $0.65 on Thursday, hitting $41.57. The company's stock had a trading volume of 4,665,413 shares, compared to its average volume of 5,092,591. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.76. Fifth Third Bancorp has a 1-year low of $32.25 and a 1-year high of $49.07. The company's 50-day moving average is $40.76 and its 200 day moving average is $40.12. The firm has a market cap of $27.75 billion, a PE ratio of 12.91, a PEG ratio of 1.38 and a beta of 0.91.

Fifth Third Bancorp announced that its board has authorized a stock buyback program on Monday, June 16th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.6%. Fifth Third Bancorp's dividend payout ratio is 45.96%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FITB shares. Keefe, Bruyette & Woods decreased 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. Barclays cut their price target on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a report on Monday, April 21st. TD Cowen began coverage on shares of Fifth Third Bancorp in a report on Thursday, May 15th. They set a "buy" rating and a $52.00 price target for the company. Truist Financial cut their price target 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, April 22nd. Finally, Cowen began coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 14th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Fifth Third Bancorp has an average rating of "Moderate Buy" and a consensus target price of $47.80.

Fifth Third Bancorp Company 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.