Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lowered its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,700 shares of the financial services provider's stock after selling 38,600 shares during the quarter. Forsta AP Fonden's holdings in Fifth Third Bancorp were worth $10,515,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Retirement Wealth Solutions LLC bought a new position in Fifth Third Bancorp during the 4th quarter valued at $25,000. Venturi Wealth Management LLC lifted its position in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after purchasing an additional 316 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Fifth Third Bancorp in the third quarter worth about $36,000. Hexagon Capital Partners LLC raised its stake in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider's stock valued at $37,000 after buying an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in Fifth Third Bancorp during the 3rd quarter worth approximately $39,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on FITB. StockNews.com cut shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Keefe, Bruyette & Woods increased their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Citigroup raised their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of "Hold" and an average target price of $46.75.

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded down $0.68 during midday trading on Monday, hitting $43.63. 2,243,156 shares of the stock were exchanged, compared to its average volume of 4,992,167. The company has a market capitalization of $29.26 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.44 and a beta of 1.23. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The business has a 50-day moving average price of $44.48 and a two-hundred day moving average price of $43.36.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.39%. Fifth Third Bancorp's dividend payout ratio (DPR) is 47.13%.

About Fifth Third Bancorp

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.