Aster Capital Management DIFC Ltd Boosts Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Aster Capital Management DIFC Ltd grew its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 114.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,158 shares of the financial services provider's stock after acquiring an additional 12,384 shares during the quarter. Aster Capital Management DIFC Ltd's holdings in Fifth Third Bancorp were worth $979,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. grew its position in shares of Fifth Third Bancorp by 3.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,809,307 shares of the financial services provider's stock worth $76,498,000 after buying an additional 64,932 shares during the last quarter. Sit Investment Associates Inc. grew its holdings in Fifth Third Bancorp by 65.0% in the fourth quarter. Sit Investment Associates Inc. now owns 237,125 shares of the financial services provider's stock worth $10,026,000 after purchasing an additional 93,450 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fifth Third Bancorp during the fourth quarter worth $1,139,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $8,228,000. Finally, Prudential PLC boosted its position in shares of Fifth Third Bancorp by 856.1% in the 4th quarter. Prudential PLC now owns 136,040 shares of the financial services provider's stock worth $5,752,000 after purchasing an additional 121,811 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

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Fifth Third Bancorp Stock Performance

Shares of FITB traded down $0.19 during mid-day trading on Friday, reaching $33.64. The company had a trading volume of 2,487,341 shares, compared to its average volume of 4,456,283. The stock has a 50 day moving average of $40.30 and a two-hundred day moving average of $43.00. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $22.48 billion, a P/E ratio of 10.69, a PEG ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a 52-week low of $32.25 and a 52-week high of $49.07.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 4.40%. Fifth Third Bancorp's payout ratio is 47.13%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FITB. Barclays upped their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Stephens restated an "equal weight" rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Robert W. Baird upgraded shares of Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 target price for the company in a research note on Monday. Citigroup dropped their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $48.12.

Insider Activity

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

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.