Wellington Management Group LLP Reduces Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Wellington Management Group LLP cut its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 28.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 325,364 shares of the financial services provider's stock after selling 126,420 shares during the period. Wellington Management Group LLP's holdings in Fifth Third Bancorp were worth $13,756,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Exchange Traded Concepts LLC grew its position in shares of Fifth Third Bancorp by 16.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider's stock valued at $79,000 after acquiring an additional 261 shares during the period. Blue Trust Inc. raised its stake in Fifth Third Bancorp by 33.9% in the 4th quarter. Blue Trust Inc. now owns 9,035 shares of the financial services provider's stock worth $387,000 after purchasing an additional 2,286 shares in the last quarter. Caprock Group LLC grew its position in Fifth Third Bancorp by 17.0% during the fourth quarter. Caprock Group LLC now owns 13,045 shares of the financial services provider's stock worth $557,000 after buying an additional 1,891 shares in the last quarter. Austin Private Wealth LLC lifted its position in shares of Fifth Third Bancorp by 13.3% during the 4th quarter. Austin Private Wealth LLC now owns 6,181 shares of the financial services provider's stock valued at $261,000 after acquiring an additional 725 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in Fifth Third Bancorp by 4.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 21,459 shares of the financial services provider's stock worth $907,000 after purchasing an additional 876 shares during the period. Institutional investors own 83.79% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 21st. They set a "buy" rating and a $47.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. 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. 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 report on Monday, April 21st. Finally, Citigroup lowered their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating for the company in a report on Monday, March 24th. One 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, Fifth Third Bancorp has an average rating of "Moderate Buy" and an average target price of $47.00.

Fifth Third Bancorp Trading Up 2.1%

Shares of Fifth Third Bancorp stock traded up $0.81 during midday trading on Tuesday, reaching $38.89. 4,051,949 shares of the company's stock traded hands, compared to its average volume of 4,500,876. 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 has a 12 month low of $32.25 and a 12 month high of $49.07. The company has a market cap of $25.96 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. The stock has a 50 day moving average of $36.69 and a 200-day moving average of $41.12.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its earnings results on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. The firm had revenue of $2.14 billion for 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 quarter in the prior year, the business earned $0.70 EPS. 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 business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.81%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is 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.