APG Asset Management N.V. Sells 984,717 Shares of Fifth Third Bancorp (NASDAQ:FITB)

APG Asset Management N.V. decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 65.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 523,846 shares of the financial services provider’s stock after selling 984,717 shares during the period. APG Asset Management N.V. owned approximately 0.08% of Fifth Third Bancorp worth $21,389,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Eads & Heald Wealth Management grew its position in Fifth Third Bancorp by 3.0% in the fourth quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 235 shares in the last quarter. Valley National Advisers Inc. lifted its stake in Fifth Third Bancorp by 3.6% in the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock valued at $285,000 after acquiring an additional 236 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Fifth Third Bancorp by 4.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after acquiring an additional 246 shares during the last quarter. Brooklyn Investment Group lifted its stake in Fifth Third Bancorp by 9.1% in the fourth quarter. Brooklyn Investment Group now owns 3,093 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 257 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Fifth Third Bancorp by 16.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,861 shares of the financial services provider’s stock worth $79,000 after buying an additional 261 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kevin P. Lavender sold 21,700 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total value of $945,035.00. Following the completion of 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO James C. Leonard sold 17,200 shares of the company’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Up 7.2 %

Fifth Third Bancorp stock opened at $35.82 on Thursday. 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 12-month low of $32.25 and a 12-month high of $49.07. The firm’s fifty day moving average is $40.50 and its 200 day moving average is $43.06. The company has a market capitalization of $23.93 billion, a PE ratio of 11.41, a PEG ratio of 1.42 and a beta of 0.99.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, March 31st. This represents a $1.48 dividend on an annualized basis and a yield of 4.13%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FITB. Wells Fargo & Company dropped their price objective on shares of Fifth Third Bancorp from $54.00 to $50.00 and set an “overweight” rating for the company in a research note on Friday, March 28th. DA Davidson raised their target price 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. Truist Financial raised their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Citigroup decreased their price target on shares of Fifth Third Bancorp from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.12.

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.