Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Conning Inc.

Conning Inc. trimmed its position in Fifth Third Bancorp (NASDAQ:FITB) by 5.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,416 shares of the financial services provider’s stock after selling 304 shares during the period. Conning Inc.’s holdings in Fifth Third Bancorp were worth $229,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock valued at $889,978,000 after acquiring an additional 732,651 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in shares of Fifth Third Bancorp in the third quarter valued at approximately $28,490,000. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Fifth Third Bancorp by 76.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock worth $57,005,000 after buying an additional 575,449 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of 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 buying an additional 409,292 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Fifth Third Bancorp by 4.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock valued at $371,837,000 after buying an additional 399,827 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 0.6 %

Shares of FITB opened at $44.04 on Monday. The business’s 50 day simple moving average is $44.06 and its 200-day simple moving average is $43.45. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The company has a market capitalization of $29.53 billion, a P/E ratio of 14.03, a PEG ratio of 1.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. StockNews.com downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, DA Davidson upped their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.75.

About Fifth Third Bancorp

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.