Fifth Third Bancorp (NASDAQ:FITB) Stock Position Reduced by BDF Gestion

BDF Gestion cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 11.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 93,062 shares of the financial services provider's stock after selling 12,086 shares during the period. BDF Gestion's holdings in Fifth Third Bancorp were worth $3,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FITB. AQR Capital Management LLC lifted its position in Fifth Third Bancorp by 63.3% during the 2nd quarter. AQR Capital Management LLC now owns 72,611 shares of the financial services provider's stock worth $2,615,000 after acquiring an additional 28,156 shares in the last quarter. Millennium Management LLC raised its position in shares of Fifth Third Bancorp by 896.7% in the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider's stock valued at $23,678,000 after purchasing an additional 583,781 shares in the last quarter. Creative Planning raised its position in shares of Fifth Third Bancorp by 3.2% in the 2nd quarter. Creative Planning now owns 232,201 shares of the financial services provider's stock valued at $8,473,000 after purchasing an additional 7,157 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Fifth Third Bancorp by 3.0% in the 2nd quarter. Cetera Investment Advisers now owns 175,140 shares of the financial services provider's stock valued at $6,391,000 after purchasing an additional 5,135 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter valued at approximately $79,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB traded down $0.74 during midday trading on Monday, reaching $43.57. The company's stock had a trading volume of 4,130,135 shares, compared to its average volume of 5,086,116. 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 company has a 50 day moving average price of $44.48 and a 200 day moving average price of $43.36. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The company has a market cap of $29.22 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.40%. Fifth Third Bancorp's payout ratio is currently 47.13%.

Analyst Upgrades and Downgrades

A number of brokerages have 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. Keefe, Bruyette & Woods upped their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. StockNews.com lowered Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, November 6th. Royal Bank of Canada reissued an "outperform" rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company upped their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $46.75.

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.