Securian Asset Management Inc. Sells 13,991 Shares of Fifth Third Bancorp $FITB

Securian Asset Management Inc. lessened its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 43.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,974 shares of the financial services provider’s stock after selling 13,991 shares during the quarter. Securian Asset Management Inc.’s holdings in Fifth Third Bancorp were worth $841,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Fifth Third Bancorp by 16.7% in the 3rd quarter. Bank of America Corp DE now owns 16,037,185 shares of the financial services provider’s stock worth $714,457,000 after purchasing an additional 2,293,939 shares during the period. Alecta Tjanstepension Omsesidigt increased its position in shares of Fifth Third Bancorp by 130.6% during the fourth quarter. Alecta Tjanstepension Omsesidigt now owns 3,367,700 shares of the financial services provider’s stock worth $157,541,000 after buying an additional 1,907,400 shares during the period. Capital World Investors raised its stake in Fifth Third Bancorp by 6.2% during the third quarter. Capital World Investors now owns 30,830,308 shares of the financial services provider’s stock worth $1,373,490,000 after buying an additional 1,803,861 shares during the last quarter. Barclays PLC lifted its holdings in Fifth Third Bancorp by 27.0% in the third quarter. Barclays PLC now owns 3,947,246 shares of the financial services provider’s stock valued at $175,850,000 after buying an additional 840,094 shares during the period. Finally, OFI Invest Asset Management lifted its holdings in Fifth Third Bancorp by 3,240.8% in the fourth quarter. OFI Invest Asset Management now owns 814,292 shares of the financial services provider’s stock valued at $38,117,000 after buying an additional 789,918 shares during the period. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling

In other news, EVP Kevin J. Khanna sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $50.77, for a total transaction of $304,620.00. Following the completion of the sale, the executive vice president owned 76,299 shares in the company, valued at $3,873,700.23. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Peter L. Sefzik sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $50.46, for a total value of $1,009,200.00. Following the transaction, the executive vice president directly owned 189,382 shares in the company, valued at $9,556,215.72. The trade was a 9.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Zacks Research downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday. Janney Montgomery Scott boosted their price objective on Fifth Third Bancorp from $51.00 to $56.25 and gave the company a “buy” rating in a research note on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on Fifth Third Bancorp from $53.00 to $54.50 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Argus raised their target price on Fifth Third Bancorp from $49.00 to $58.00 in a research note on Thursday, January 22nd. Finally, Barclays lifted their target price on Fifth Third Bancorp from $61.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, April 20th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.19.

Fifth Third Bancorp Trading Down 3.0%

FITB opened at $47.15 on Thursday. The company has a fifty day moving average price of $47.85 and a two-hundred day moving average price of $47.68. Fifth Third Bancorp has a 1-year low of $36.64 and a 1-year high of $55.44. The company has a market cap of $42.73 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 0.99 and a beta of 0.94. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.59.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 17th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.87. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Fifth Third Bancorp had a net margin of 15.89% and a return on equity of 12.39%. During the same quarter in the prior year, the firm earned $0.71 EPS. Analysts predict that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.40 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.4%. Fifth Third Bancorp’s dividend payout ratio is presently 53.69%.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.