Shell Asset Management Co. Has $116,000 Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Shell Asset Management Co. lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 39.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,542 shares of the financial services provider’s stock after selling 2,272 shares during the quarter. Shell Asset Management Co.’s holdings in Fifth Third Bancorp were worth $116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Handelsbanken Fonder AB increased its position in Fifth Third Bancorp by 12.6% during the fourth quarter. Handelsbanken Fonder AB now owns 255,992 shares of the financial services provider’s stock worth $8,399,000 after acquiring an additional 28,698 shares during the period. Envestnet Asset Management Inc. increased its position in Fifth Third Bancorp by 2.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 930,660 shares of the financial services provider’s stock worth $30,535,000 after acquiring an additional 18,578 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Fifth Third Bancorp by 13.4% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 496,218 shares of the financial services provider’s stock worth $16,197,000 after acquiring an additional 58,561 shares during the period. Daiwa Securities Group Inc. increased its position in Fifth Third Bancorp by 5.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 47,972 shares of the financial services provider’s stock worth $1,574,000 after acquiring an additional 2,454 shares during the period. Finally, Arete Wealth Advisors LLC increased its holdings in Fifth Third Bancorp by 19.2% in the 4th quarter. Arete Wealth Advisors LLC now owns 13,129 shares of the financial services provider’s stock valued at $430,762,490,000 after buying an additional 2,113 shares during the period. Institutional investors own 80.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FITB. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 price target on shares of Fifth Third Bancorp in a report on Friday, April 21st. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Friday, April 21st. UBS Group boosted their price target on shares of Fifth Third Bancorp from $29.00 to $31.00 in a report on Sunday, April 23rd. JPMorgan Chase & Co. lowered their price target on shares of Fifth Third Bancorp from $37.50 to $32.50 and set a “neutral” rating on the stock in a report on Monday, April 10th. Finally, Piper Sandler lowered their target price on shares of Fifth Third Bancorp from $43.00 to $40.00 in a report on Friday, March 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $35.59.

Fifth Third Bancorp Stock Down 0.2 %

Shares of NASDAQ FITB opened at $23.62 on Friday. The firm’s 50-day simple moving average is $26.64 and its 200 day simple moving average is $32.10. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 6.83, a price-to-earnings-growth ratio of 0.87 and a beta of 1.17. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.79. Fifth Third Bancorp has a 12-month low of $22.11 and a 12-month high of $40.07.

Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last issued its quarterly earnings results on Thursday, April 20th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.01). Fifth Third Bancorp had a return on equity of 16.28% and a net margin of 24.39%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the company earned $0.69 EPS. On average, research analysts expect that Fifth Third Bancorp will post 3.47 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $1.32 dividend on an annualized basis and a yield of 5.59%. Fifth Third Bancorp’s payout ratio is presently 38.15%.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Howard Hammond sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $37.32, for a total transaction of $37,320.00. Following the transaction, the executive vice president now directly owns 49,202 shares in the company, valued at approximately $1,836,218.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Evan Bayh purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were acquired at an average cost of $24.82 per share, for a total transaction of $124,100.00. Following the transaction, the director now directly owns 73,700 shares of the company’s stock, valued at approximately $1,829,234. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Howard Hammond sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $37.32, for a total transaction of $37,320.00. Following the completion of the sale, the executive vice president now owns 49,202 shares in the company, valued at $1,836,218.64. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

About Fifth Third Bancorp

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Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth and Asset Management.