Mn Services Vermogensbeheer B.V. Sells 19,100 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Mn Services Vermogensbeheer B.V. lowered its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 7.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,400 shares of the financial services provider's stock after selling 19,100 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Fifth Third Bancorp were worth $9,659,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of Fifth Third Bancorp by 3.9% in the fourth 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 purchasing an additional 812,385 shares during the period. Geode Capital Management LLC lifted its position in shares of Fifth Third Bancorp by 1.7% during 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 purchasing an additional 285,910 shares during the last quarter. Boston Partners lifted its position in shares of Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after purchasing an additional 823,803 shares during the last quarter. First Trust Advisors LP boosted its stake in Fifth Third Bancorp by 12.1% during the 4th quarter. First Trust Advisors LP now owns 9,531,485 shares of the financial services provider's stock valued at $402,991,000 after purchasing an additional 1,027,044 shares during the period. Finally, Norges Bank acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at approximately $371,836,000. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Price Performance

FITB stock traded up $0.57 during trading on Friday, hitting $39.35. 3,314,785 shares of the stock traded hands, compared to its average volume of 4,482,274. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.80. The stock has a market cap of $26.26 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.34 and a beta of 0.90. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The company has a 50 day simple moving average of $37.34 and a 200 day simple moving average of $40.42.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a return on equity of 13.64% and a net margin of 17.65%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the company earned $0.70 EPS. Equities analysts expect that Fifth Third Bancorp will post 3.68 EPS for the current fiscal year.

Fifth Third Bancorp declared that its Board of Directors has initiated a stock buyback program on Monday, June 16th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.76%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Stephens reiterated an "equal weight" rating and set a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Barclays cut their target price on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price target on the stock in a research report on Monday, April 7th. TD Cowen began coverage on Fifth Third Bancorp in a research report on Thursday, May 15th. They issued a "buy" rating and a $52.00 price objective for the company. Finally, Jefferies Financial Group started coverage on Fifth Third Bancorp in a research note on Wednesday, May 21st. They issued a "buy" rating and a $47.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $47.53.

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.