Elo Mutual Pension Insurance Co Decreases Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Elo Mutual Pension Insurance Co lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 66,267 shares of the financial services provider’s stock after selling 4,423 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Fifth Third Bancorp were worth $2,802,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Fifth Third Bancorp by 8.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,060,604 shares of the financial services provider’s stock valued at $44,959,000 after purchasing an additional 87,063 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Fifth Third Bancorp by 3.1% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,788 shares of the financial services provider’s stock worth $963,000 after buying an additional 688 shares during the last quarter. TIAA Trust National Association raised its stake in Fifth Third Bancorp by 4.7% during the fourth quarter. TIAA Trust National Association now owns 7,974 shares of the financial services provider’s stock worth $337,000 after purchasing an additional 361 shares during the period. Stevens Capital Management LP acquired a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $373,000. Finally, LPL Financial LLC boosted its stake in Fifth Third Bancorp by 16.4% during the fourth quarter. LPL Financial LLC now owns 519,339 shares of the financial services provider’s stock worth $21,958,000 after buying an additional 73,245 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insiders Place Their Bets

In other news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $44.26, for a total transaction of $761,272.00. Following the sale, the chief operating officer now directly owns 244,487 shares of the company’s stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 owns 130,856 shares in the company, valued at $5,698,778.80. This represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Down 2.4 %

NASDAQ FITB opened at $38.81 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a fifty-two week low of $33.82 and a fifty-two week high of $49.07. The business has a 50 day moving average price of $42.18 and a two-hundred day moving average price of $43.50. The stock has a market cap of $25.93 billion, a PE ratio of 12.36, a P/E/G ratio of 1.42 and a beta of 1.21.

Fifth Third Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citigroup cut their target price on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. DA Davidson raised their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted 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 research note on Wednesday, December 4th. Morgan Stanley decreased their target price on Fifth Third Bancorp from $57.00 to $52.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Finally, Stephens restated an “equal weight” rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $46.64.

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.