Tredje AP fonden Sells 64,049 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Tredje AP fonden decreased its stake in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 64,049 shares of the financial services provider's stock after selling 64,049 shares during the quarter. Tredje AP fonden's holdings in Fifth Third Bancorp were worth $2,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Fifth Third Bancorp by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 21,586,847 shares of the financial services provider's stock worth $912,692,000 after acquiring an additional 812,385 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Fifth Third Bancorp by 8.1% in the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider's stock worth $242,713,000 after acquiring an additional 409,292 shares in the last quarter. Davis Selected Advisers increased its holdings in shares of Fifth Third Bancorp by 0.4% in the fourth quarter. Davis Selected Advisers now owns 2,444,176 shares of the financial services provider's stock worth $103,340,000 after acquiring an additional 8,640 shares in the last quarter. Smead Capital Management Inc. increased its holdings in shares of Fifth Third Bancorp by 3.5% in the third quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider's stock worth $95,278,000 after acquiring an additional 75,024 shares in the last quarter. Finally, PL Capital Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 4,128.0% in the fourth quarter. PL Capital Advisors LLC now owns 1,860,320 shares of the financial services provider's stock worth $78,654,000 after acquiring an additional 1,816,320 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley decreased their price objective on Fifth Third Bancorp from $57.00 to $52.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Stephens reiterated an "equal weight" rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Keefe, Bruyette & Woods increased their price objective 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. Citigroup increased their price objective 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 reiterated an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday, February 10th. One equities 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 stock presently has a consensus rating of "Hold" and a consensus target price of $47.36.

Fifth Third Bancorp Stock Performance

Shares of FITB traded down $0.10 during mid-day trading on Tuesday, reaching $38.89. The company's stock had a trading volume of 3,383,096 shares, compared to its average volume of 4,209,458. Fifth Third Bancorp has a 1-year low of $33.82 and a 1-year high of $49.07. The stock has a market cap of $25.98 billion, a P/E ratio of 12.39, a PEG ratio of 1.42 and a beta of 1.21. The business has a 50-day simple moving average of $42.76 and a two-hundred day simple moving average of $43.67. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82.

Insider Activity

In related news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp 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 completion of the sale, the chief operating officer now directly owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. This trade represents a 6.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $43.55, for a total value of $945,035.00. Following the sale, the executive vice president now directly owns 130,856 shares of the company's stock, valued at approximately $5,698,778.80. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.53% of the company's stock.

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.