Man Group plc Has $3.06 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Man Group plc raised its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 36.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,395 shares of the financial services provider's stock after acquiring an additional 19,371 shares during the quarter. Man Group plc's holdings in Fifth Third Bancorp were worth $3,061,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in Fifth Third Bancorp by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock valued at $912,692,000 after acquiring an additional 812,385 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Fifth Third Bancorp by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 16,959,001 shares of the financial services provider's stock worth $715,219,000 after buying an additional 285,910 shares during the last quarter. Boston Partners lifted its position in shares of Fifth Third Bancorp by 6.2% in the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after buying an additional 823,803 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Fifth Third Bancorp by 12.1% in the 4th quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock worth $402,991,000 after buying an additional 1,027,044 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth about $371,836,000. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB stock traded down $0.31 during midday trading on Monday, reaching $37.20. 2,974,973 shares of the company were exchanged, compared to its average volume of 4,506,003. 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 $24.83 billion, a P/E ratio of 11.85, a PEG ratio of 1.42 and a beta of 0.89. The company's 50 day moving average price is $36.91 and its two-hundred day moving average price is $41.50. 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 (NASDAQ:FITB - Get Free Report) last released its earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the business earned $0.70 earnings per share. On average, sell-side analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FITB shares. TD Cowen started coverage on shares of Fifth Third Bancorp in a research report on Thursday, May 15th. They issued a "buy" rating and a $52.00 price target on the stock. Baird R W upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 7th. Keefe, Bruyette & Woods reduced their price target 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. Stephens restated an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, March 5th. Finally, DA Davidson cut their price objective on shares of Fifth Third Bancorp from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $46.78.

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.