Nordea Investment Management AB Buys 54,463 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Nordea Investment Management AB lifted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 8.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 666,028 shares of the financial services provider's stock after acquiring an additional 54,463 shares during the quarter. Nordea Investment Management AB owned 0.10% of Fifth Third Bancorp worth $28,286,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. increased its position in shares of Fifth Third Bancorp by 15.1% during the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider's stock valued at $3,078,000 after purchasing an additional 9,444 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Fifth Third Bancorp by 13.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider's stock valued at $19,776,000 after buying an additional 55,081 shares during the period. Icon Wealth Advisors LLC purchased a new stake in Fifth Third Bancorp during the third quarter worth about $541,000. First National Trust Co raised its position in Fifth Third Bancorp by 44.9% in the third quarter. First National Trust Co now owns 77,099 shares of the financial services provider's stock worth $3,303,000 after acquiring an additional 23,890 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Fifth Third Bancorp by 3.0% in the second quarter. Dimensional Fund Advisors LP now owns 9,757,854 shares of the financial services provider's stock valued at $356,031,000 after acquiring an additional 281,494 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB traded down $0.44 during trading hours on Wednesday, reaching $42.42. 5,507,843 shares of the company's stock traded hands, compared to its average volume of 4,468,648. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock has a market cap of $28.44 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 2.18 and a beta of 1.22. The firm's 50 day simple moving average is $45.26 and its 200-day simple moving average is $42.54.

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

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.49%. Fifth Third Bancorp's payout ratio is 49.17%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the transaction, the executive vice president now directly owns 55,913 shares in the company, valued at $2,441,720.71. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FITB shares. Truist Financial initiated coverage on shares of Fifth Third Bancorp in a research note on Tuesday. They set a "buy" rating and a $51.00 price target for the company. StockNews.com lowered Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. Morgan Stanley increased their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, September 30th. Baird R W cut Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 21st. Finally, Barclays upped their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a report on Monday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $45.92.

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.