Nomura Asset Management Co. Ltd. Has $8.78 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Nomura Asset Management Co. Ltd. increased its holdings in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 204,838 shares of the financial services provider's stock after purchasing an additional 11,978 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Fifth Third Bancorp were worth $8,775,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jupiter Asset Management Ltd. bought a new stake in Fifth Third Bancorp during the second quarter worth about $33,337,000. Charles Schwab Investment Management Inc. increased its holdings in Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider's stock valued at $889,978,000 after purchasing an additional 732,651 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Fifth Third Bancorp in the 3rd quarter valued at $28,490,000. Millennium Management LLC boosted its stake in Fifth Third Bancorp by 896.7% in the second quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider's stock worth $23,678,000 after purchasing an additional 583,781 shares in the last quarter. Finally, Employees Retirement System of Texas grew its holdings in shares of Fifth Third Bancorp by 38.7% during the second quarter. Employees Retirement System of Texas now owns 1,433,900 shares of the financial services provider's stock worth $52,323,000 after purchasing an additional 399,900 shares during the last quarter. Institutional investors own 83.79% of the company's stock.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB traded up $0.02 during trading on Friday, reaching $45.55. 4,202,585 shares of the stock were exchanged, compared to its average volume of 4,543,782. The firm has a market cap of $30.54 billion, a PE ratio of 15.13, a PEG ratio of 2.19 and a beta of 1.22. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The stock has a 50-day moving average price of $45.47 and a 200-day moving average price of $41.58.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The firm had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. Research analysts expect that Fifth Third Bancorp will post 3.34 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.25%. The ex-dividend date is Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio is currently 49.17%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FITB. Piper Sandler boosted their price objective on shares of Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Baird R W lowered Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods upped their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. StockNews.com cut Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Finally, Citigroup lifted their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $44.81.

Insider Buying and Selling

In other news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now directly owns 55,913 shares of the company's stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

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.