Robeco Institutional Asset Management B.V. Decreases Stake in Fifth Third Bancorp (NASDAQ:FITB)

Robeco Institutional Asset Management B.V. reduced its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 155,357 shares of the financial services provider's stock after selling 29,867 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Fifth Third Bancorp were worth $6,568,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Boston Common Asset Management LLC lifted its holdings in Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock valued at $13,079,000 after buying an additional 34,203 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Fifth Third Bancorp by 15.1% in 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 period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Fifth Third Bancorp by 13.6% during the 3rd 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 purchasing an additional 55,081 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in Fifth Third Bancorp in the third quarter worth approximately $541,000. Finally, Nordea Investment Management AB lifted its stake in Fifth Third Bancorp by 8.9% in the fourth quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider's stock valued at $28,286,000 after buying an additional 54,463 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FITB has been the subject of several recent analyst reports. Citigroup raised 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 report on Friday, November 22nd. Piper Sandler reaffirmed an "overweight" rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Barclays increased their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Fifth Third Bancorp has a consensus rating of "Hold" and an average price target of $46.75.

Fifth Third Bancorp Stock Up 0.3 %

NASDAQ:FITB traded up $0.11 on Wednesday, hitting $43.98. The stock had a trading volume of 3,440,676 shares, compared to its average volume of 4,915,977. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The firm's fifty day simple moving average is $44.30 and its two-hundred day simple moving average is $43.40. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $29.49 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp's payout ratio is 47.13%.

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.