Wellington Management Group LLP Has $19.35 Million Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Wellington Management Group LLP lowered its position in Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 451,784 shares of the financial services provider's stock after selling 64,282 shares during the quarter. Wellington Management Group LLP owned about 0.07% of Fifth Third Bancorp worth $19,354,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in FITB. QRG Capital Management Inc. raised its position in Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider's stock worth $3,078,000 after acquiring an additional 9,444 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 acquiring an additional 55,081 shares during the last quarter. Icon Wealth Advisors LLC acquired a new position in shares of Fifth Third Bancorp in the 3rd quarter worth $541,000. First National Trust Co raised its position in shares of Fifth Third Bancorp by 44.9% during the third quarter. First National Trust Co now owns 77,099 shares of the financial services provider's stock worth $3,303,000 after purchasing an additional 23,890 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Fifth Third Bancorp by 3.0% during 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 purchasing an additional 281,494 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

Shares of FITB traded up $0.02 during trading hours on Friday, reaching $45.55. 4,202,665 shares of the company traded hands, compared to its average volume of 4,543,782. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The stock has a market cap of $30.54 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 2.19 and a beta of 1.22. The stock's fifty day moving average is $45.54 and its 200 day moving average is $41.63. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). The business 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%. Fifth Third Bancorp's revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 earnings per share. Equities research analysts anticipate that Fifth Third Bancorp will post 3.34 earnings per share 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. Stockholders of record on Tuesday, December 31st will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is currently 49.17%.

Insider Transactions at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the company's 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 approximately $2,441,720.71. This represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on FITB shares. Keefe, Bruyette & Woods raised their target price on shares of 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. Morgan Stanley lifted their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, September 30th. Baird R W downgraded shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a report on Monday, October 21st. Finally, Piper Sandler upped their price target on Fifth Third Bancorp from $49.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. One equities 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $44.81.

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.