Bank of Montreal Can Cuts Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Bank of Montreal Can decreased its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,732,903 shares of the financial services provider's stock after selling 86,389 shares during the quarter. Bank of Montreal Can owned approximately 0.26% of Fifth Third Bancorp worth $73,267,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter worth $25,000. Sierra Ocean LLC acquired a new position in Fifth Third Bancorp during the 4th quarter worth approximately $28,000. BankPlus Trust Department acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $29,000. Midwest Capital Advisors LLC purchased a new stake in Fifth Third Bancorp during the 4th quarter worth $33,000. Finally, Y.D. More Investments Ltd increased its holdings in Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock worth $35,000 after purchasing an additional 449 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Up 1.8 %

NASDAQ:FITB traded up $0.62 during mid-day trading on Monday, hitting $34.46. 1,637,396 shares of the company's stock were exchanged, compared to its average volume of 4,461,364. The company has a 50 day simple moving average of $40.10 and a 200-day simple moving average of $42.94. The firm has a market capitalization of $23.02 billion, a P/E ratio of 10.97, a PEG ratio of 1.42 and a beta of 0.99. Fifth Third Bancorp has a fifty-two week low of $32.25 and a fifty-two week high of $49.07. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp's dividend payout ratio is currently 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

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

Analyst Ratings Changes

Several research firms recently weighed in on FITB. Citigroup dropped their price objective on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Stephens restated an "equal weight" rating and issued a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Robert W. Baird upgraded Fifth Third Bancorp from a "neutral" rating to an "outperform" rating and set a $47.00 price objective for the company in a research report on Monday, April 7th. Finally, Morgan Stanley dropped their target price on shares of Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Fifth Third Bancorp has a consensus rating of "Moderate Buy" and an average price target of $48.12.

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.