Assenagon Asset Management S.A. Sells 1,217 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Assenagon Asset Management S.A. lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,488 shares of the financial services provider’s stock after selling 1,217 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Fifth Third Bancorp were worth $866,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC grew its stake in Fifth Third Bancorp by 1.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after buying an additional 222 shares during the last quarter. Transamerica Financial Advisors Inc. increased its stake in shares of Fifth Third Bancorp by 7.5% in the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 232 shares during the period. Quent Capital LLC lifted its position in shares of Fifth Third Bancorp by 9.9% during the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 248 shares during the last quarter. Diversified Trust Co grew its holdings in Fifth Third Bancorp by 2.6% in the 3rd quarter. Diversified Trust Co now owns 10,098 shares of the financial services provider’s stock valued at $433,000 after buying an additional 259 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in Fifth Third Bancorp by 1.2% in the 3rd quarter. Metis Global Partners LLC now owns 21,749 shares of the financial services provider’s stock worth $932,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $44.18 on Friday. The firm has a 50 day moving average of $44.78 and a 200-day moving average of $43.03. The company has a current ratio of 0.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The stock has a market capitalization of $29.62 billion, a P/E ratio of 14.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24.

Fifth Third Bancorp Announces Dividend

The business 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. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.35%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Insider Buying and Selling at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now owns 55,913 shares in the company, valued at $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

FITB has been the topic of several research analyst reports. Barclays raised 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 note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday. Morgan Stanley increased their target price on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Evercore ISI boosted their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Company 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.