Fifth Third Bancorp $FITB Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 227,476 shares of the financial services provider’s stock after buying an additional 11,139 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Fifth Third Bancorp were worth $9,356,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FITB. Allianz Asset Management GmbH increased its holdings in Fifth Third Bancorp by 5.8% in the first quarter. Allianz Asset Management GmbH now owns 292,102 shares of the financial services provider’s stock valued at $11,450,000 after buying an additional 16,000 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Fifth Third Bancorp by 8.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 8,160,367 shares of the financial services provider’s stock worth $346,326,000 after buying an additional 654,746 shares during the last quarter. Huntington National Bank boosted its position in shares of Fifth Third Bancorp by 10.9% during the 2nd quarter. Huntington National Bank now owns 121,225 shares of the financial services provider’s stock worth $4,986,000 after acquiring an additional 11,935 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of Fifth Third Bancorp by 5.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 205,032 shares of the financial services provider’s stock valued at $8,025,000 after acquiring an additional 10,826 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Fifth Third Bancorp by 382.2% in the 1st quarter. Jump Financial LLC now owns 30,049 shares of the financial services provider’s stock valued at $1,178,000 after acquiring an additional 23,817 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FITB shares. Janney Montgomery Scott upped their price target on Fifth Third Bancorp from $50.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Wolfe Research boosted their price objective on shares of Fifth Third Bancorp from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. TD Cowen increased their target price on shares of Fifth Third Bancorp from $57.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, October 20th. The Goldman Sachs Group lifted their price target on shares of Fifth Third Bancorp from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, Argus boosted their price target on shares of Fifth Third Bancorp from $46.00 to $49.00 in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.35.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock opened at $41.28 on Friday. The firm’s fifty day simple moving average is $43.21 and its 200-day simple moving average is $42.03. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07. The stock has a market capitalization of $27.29 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.14 and a beta of 0.98. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.82 and a quick ratio of 0.82.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, October 17th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. The company had revenue of $2.31 billion for the quarter, compared to the consensus estimate of $2.34 billion. Fifth Third Bancorp had a net margin of 18.67% and a return on equity of 13.41%. Fifth Third Bancorp’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.78 EPS. As a group, equities analysts forecast that Fifth Third Bancorp will post 3.68 earnings per share for the current year.

Fifth Third Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.40 per share. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, September 30th. Fifth Third Bancorp’s dividend payout ratio is 47.76%.

Insider Transactions at Fifth Third Bancorp

In related news, Director Evan Bayh acquired 3,000 shares of Fifth Third Bancorp stock in a transaction on Monday, October 20th. The stock was purchased at an average cost of $41.22 per share, with a total value of $123,660.00. Following the purchase, the director directly owned 84,942 shares in the company, valued at approximately $3,501,309.24. The trade was a 3.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is owned by company insiders.

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.