E. Ohman J or Asset Management AB Cuts Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

E. Ohman J or Asset Management AB trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,500 shares of the financial services provider’s stock after selling 2,800 shares during the period. E. Ohman J or Asset Management AB’s holdings in Fifth Third Bancorp were worth $1,117,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at about $28,000. BankPlus Trust Department purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at about $29,000. Quarry LP purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at about $29,000. Midwest Capital Advisors LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at about $33,000. Finally, REAP Financial Group LLC boosted its position in Fifth Third Bancorp by 161.8% during the fourth quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider’s stock valued at $33,000 after buying an additional 487 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $39.41 on Friday. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $49.07. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average of $36.65 and a 200 day moving average of $40.98. The company has a market capitalization of $26.31 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Thursday, April 17th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Monday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 46.98%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FITB shares. Jefferies Financial Group started coverage on shares of Fifth Third Bancorp in a report on Wednesday, May 21st. They set a “buy” rating and a $47.00 target price for the company. Baird R W upgraded shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, April 7th. JPMorgan Chase & Co. dropped their target price on shares of Fifth Third Bancorp from $49.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods dropped their target price on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Finally, Barclays dropped their target price on shares of Fifth Third Bancorp from $56.00 to $51.00 and set an “overweight” rating for the company in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.00.

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.