Universal Beteiligungs und Servicegesellschaft mbH Has $13.73 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Universal Beteiligungs und Servicegesellschaft mbH cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 350,364 shares of the financial services provider's stock after selling 7,966 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.05% of Fifth Third Bancorp worth $13,734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $371,836,000. Massachusetts Financial Services Co. MA acquired a new position in Fifth Third Bancorp in the 1st quarter worth about $113,900,000. GAMMA Investing LLC increased its position in Fifth Third Bancorp by 4,271.4% in the 1st quarter. GAMMA Investing LLC now owns 1,203,362 shares of the financial services provider's stock worth $47,172,000 after purchasing an additional 1,175,834 shares during the last quarter. First Trust Advisors LP increased its position in 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 purchasing an additional 1,027,044 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Fifth Third Bancorp in the 4th quarter worth about $38,971,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial dropped their target price on Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Cowen initiated coverage on Fifth Third Bancorp in a report on Wednesday, May 14th. They set a "buy" rating on the stock. Keefe, Bruyette & Woods lowered their price objective on Fifth Third Bancorp from $47.00 to $42.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Jefferies Financial Group initiated coverage on Fifth Third Bancorp in a report on Wednesday, May 21st. They set a "buy" rating and a $47.00 price objective on the stock. Finally, Robert W. Baird raised Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective on the stock in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Fifth Third Bancorp presently has an average rating of "Moderate Buy" and an average price target of $47.80.

Fifth Third Bancorp Stock Performance

Shares of FITB stock traded up $0.15 during mid-day trading on Friday, reaching $42.84. The stock had a trading volume of 4,485,679 shares, compared to its average volume of 6,558,727. The firm's 50 day simple moving average is $40.54 and its 200 day simple moving average is $40.11. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.76. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The firm has a market cap of $28.60 billion, a PE ratio of 13.30, a P/E/G ratio of 1.38 and a beta of 0.91.

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

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.37 per share. The ex-dividend date was Monday, June 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.45%. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 45.96%.

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.