Fort Washington Investment Advisors Inc. OH Sells 1,670 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Fort Washington Investment Advisors Inc. OH reduced its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,616,571 shares of the financial services provider’s stock after selling 1,670 shares during the quarter. Fifth Third Bancorp comprises approximately 1.4% of Fort Washington Investment Advisors Inc. OH’s holdings, making the stock its 16th biggest position. Fort Washington Investment Advisors Inc. OH’s holdings in Fifth Third Bancorp were worth $237,469,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Fifth Third Bancorp by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after acquiring an additional 732,651 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Fifth Third Bancorp by 4.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock worth $371,837,000 after purchasing an additional 399,827 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after purchasing an additional 409,292 shares during the last quarter. Smead Capital Management Inc. boosted its stake in Fifth Third Bancorp by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock valued at $95,278,000 after purchasing an additional 75,024 shares during the period. Finally, Zacks Investment Management grew its holdings in Fifth Third Bancorp by 10.0% in the 3rd quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock valued at $74,450,000 after buying an additional 158,067 shares in the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fifth Third Bancorp

In other news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by insiders.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $44.86 on Wednesday. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The stock’s 50-day simple moving average is $44.96 and its 200 day simple moving average is $42.95. The firm has a market capitalization of $30.08 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.93 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. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.30%. Fifth Third Bancorp’s payout ratio is currently 49.17%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Barclays lifted 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. Wells Fargo & Company increased their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods lifted their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Citigroup boosted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.92.

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.