APG Asset Management N.V. Sells 984,717 Shares of Fifth Third Bancorp (NASDAQ:FITB)

APG Asset Management N.V. decreased its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 65.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 523,846 shares of the financial services provider's stock after selling 984,717 shares during the quarter. APG Asset Management N.V. owned 0.08% of Fifth Third Bancorp worth $21,389,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FITB. Eads & Heald Wealth Management lifted its position in Fifth Third Bancorp by 3.0% during the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider's stock worth $347,000 after buying an additional 235 shares in the last quarter. Valley National Advisers Inc. increased its position in shares of Fifth Third Bancorp by 3.6% in the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider's stock valued at $285,000 after acquiring an additional 236 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Fifth Third Bancorp by 4.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider's stock valued at $231,000 after purchasing an additional 246 shares during the last quarter. Brooklyn Investment Group grew its stake in Fifth Third Bancorp by 9.1% in the fourth quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider's stock valued at $131,000 after purchasing an additional 257 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Fifth Third Bancorp by 16.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider's stock valued at $79,000 after purchasing an additional 261 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FITB. Baird R W upgraded shares of Fifth Third Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. DA Davidson raised their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Citigroup decreased their target price on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Morgan Stanley reduced their price objective on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $48.12.

Fifth Third Bancorp Price Performance

Shares of FITB traded up $0.75 during trading hours on Tuesday, reaching $35.35. 1,803,253 shares of the company's stock traded hands, compared to its average volume of 4,469,844. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm's 50 day simple moving average is $39.91 and its 200-day simple moving average is $42.88. The stock has a market cap of $23.62 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Monday, March 31st. Fifth Third Bancorp's payout ratio is 47.13%.

Insider Activity

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total value of $761,272.00. Following the completion of the sale, the chief operating officer now owns 244,487 shares of the company's stock, valued at $10,820,994.62. This represents a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total transaction of $945,035.00. Following the transaction, the executive vice president now directly owns 130,856 shares in the company, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.53% of the company's stock.

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.