Sumitomo Mitsui Trust Holdings Inc. Acquires 73,675 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,904,833 shares of the financial services provider's stock after acquiring an additional 73,675 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.28% of Fifth Third Bancorp worth $65,698,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Penserra Capital Management LLC raised its position in Fifth Third Bancorp by 8.7% in the fourth quarter. Penserra Capital Management LLC now owns 3,568 shares of the financial services provider's stock worth $116,000 after acquiring an additional 285 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Fifth Third Bancorp by 1.7% in the third quarter. Mercer Global Advisors Inc. ADV now owns 18,752 shares of the financial services provider's stock worth $599,000 after acquiring an additional 321 shares in the last quarter. Independence Bank of Kentucky raised its holdings in Fifth Third Bancorp by 21.1% during the 4th quarter. Independence Bank of Kentucky now owns 2,038 shares of the financial services provider's stock worth $70,000 after buying an additional 355 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Fifth Third Bancorp by 1.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 25,098 shares of the financial services provider's stock worth $823,000 after buying an additional 370 shares during the period. Finally, Toroso Investments LLC raised its holdings in Fifth Third Bancorp by 5.0% during the 4th quarter. Toroso Investments LLC now owns 7,844 shares of the financial services provider's stock worth $257,000 after buying an additional 371 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares of the company's stock, valued at $8,407,751.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Fifth Third Bancorp news, COO James C. Leonard sold 26,500 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the sale, the chief operating officer now owns 229,344 shares of the company's stock, valued at $8,407,751.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jude Schramm sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $36.38, for a total value of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares of the company's stock, valued at $5,072,172.36. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

Fifth Third Bancorp Stock Up 5.9 %

Shares of NASDAQ FITB traded up $2.03 during trading hours on Friday, hitting $36.25. The stock had a trading volume of 13,812,000 shares, compared to its average volume of 5,509,247. The company has a market capitalization of $24.69 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.29 and a beta of 1.27. The firm's 50-day moving average price is $35.16 and its two-hundred day moving average price is $31.70. Fifth Third Bancorp has a 52 week low of $22.46 and a 52 week high of $37.41. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.81 and a current ratio of 0.81.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. During the same period in the previous year, the business posted $0.78 earnings per share. Analysts anticipate that Fifth Third Bancorp will post 3.19 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.86%. Fifth Third Bancorp's payout ratio is currently 43.34%.

Analyst Ratings Changes

FITB has been the topic of several recent analyst reports. Royal Bank of Canada boosted their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Monday, January 22nd. Barclays boosted their price objective on Fifth Third Bancorp from $34.00 to $43.00 and gave the stock an "overweight" rating in a report on Tuesday, January 2nd. Wells Fargo & Company boosted their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 28th. Morgan Stanley boosted their price objective on Fifth Third Bancorp from $29.00 to $36.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 7th. Finally, Stephens reiterated an "equal weight" rating and issued a $41.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $35.63.

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.