Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd trimmed its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 37.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,142 shares of the financial services provider's stock after selling 80,471 shares during the quarter. USS Investment Management Ltd's holdings in Fifth Third Bancorp were worth $5,672,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valley National Advisers Inc. lifted its stake in Fifth Third Bancorp by 3.6% in the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider's stock worth $285,000 after acquiring an additional 236 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Fifth Third Bancorp by 4.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider's stock worth $231,000 after purchasing an additional 246 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Fifth Third Bancorp by 16.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider's stock valued at $79,000 after purchasing an additional 261 shares in the last quarter. Howard Capital Management Inc. increased its holdings in Fifth Third Bancorp by 5.6% during the fourth quarter. Howard Capital Management Inc. now owns 5,170 shares of the financial services provider's stock valued at $219,000 after buying an additional 274 shares during the period. Finally, Pinnacle Financial Partners Inc raised its stake in Fifth Third Bancorp by 3.3% in the fourth quarter. Pinnacle Financial Partners Inc now owns 8,653 shares of the financial services provider's stock worth $366,000 after buying an additional 276 shares in the last quarter. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

Fifth Third Bancorp stock traded down $0.31 during trading hours on Monday, hitting $37.20. 2,974,973 shares of the stock traded hands, compared to its average volume of 4,506,003. The firm's 50 day moving average price is $36.91 and its 200-day moving average price is $41.50. 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 capitalization of $24.83 billion, a price-to-earnings ratio of 11.85, a P/E/G 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 - Get Free Report) last issued its earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a return on equity of 14.10% and a net margin of 17.43%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. As a group, equities analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.98%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cowen started coverage on Fifth Third Bancorp in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Keefe, Bruyette & Woods cut their target price on Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Truist Financial reduced their target price 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. Wells Fargo & Company lowered their price target on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Morgan Stanley reduced their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $46.78.

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.