Mn Services Vermogensbeheer B.V. Has $9.66 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Mn Services Vermogensbeheer B.V. reduced its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 7.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. Asset Management One Co. Ltd. raised its stake in shares of Fifth Third Bancorp by 3.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 265,622 shares of the financial services provider's stock valued at $11,395,000 after acquiring an additional 8,144 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in Fifth Third Bancorp by 79.4% during the 4th quarter. Vontobel Holding Ltd. now owns 15,305 shares of the financial services provider's stock valued at $647,000 after purchasing an additional 6,774 shares in the last quarter. Principal Securities Inc. raised its position in Fifth Third Bancorp by 9.7% in the 4th quarter. Principal Securities Inc. now owns 30,929 shares of the financial services provider's stock valued at $1,308,000 after purchasing an additional 2,724 shares during the last quarter. Allworth Financial LP boosted its stake in Fifth Third Bancorp by 6.7% in the fourth quarter. Allworth Financial LP now owns 7,559 shares of the financial services provider's stock worth $332,000 after purchasing an additional 477 shares in the last quarter. Finally, Valmark Advisers Inc. grew its holdings in shares of Fifth Third Bancorp by 2.6% during the fourth quarter. Valmark Advisers Inc. now owns 16,597 shares of the financial services provider's stock worth $702,000 after purchasing an additional 419 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FITB. Stephens reaffirmed an "equal weight" rating and issued a $51.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Morgan Stanley dropped their target price 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. DA Davidson upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating and upped their target price for the stock from $42.00 to $47.00 in a research report on Monday, June 9th. JPMorgan Chase & Co. lowered their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, Barclays dropped their price objective on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $47.53.

Fifth Third Bancorp Trading Up 1.7%

NASDAQ:FITB traded up $0.64 during mid-day trading on Wednesday, hitting $38.75. The company had a trading volume of 779,645 shares, compared to its average volume of 4,462,554. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.80 and a current ratio of 0.81. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. The firm has a market cap of $25.87 billion, a P/E ratio of 12.32, a P/E/G ratio of 1.32 and a beta of 0.90. The business's fifty day moving average is $37.18 and its two-hundred day moving average is $40.49.

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

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.37 per share. 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 3.82%. Fifth Third Bancorp's dividend payout ratio is 46.98%.

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

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.