Nordea Investment Management AB Has $59.79 Million Position in Fifth Third Bancorp $FITB

Nordea Investment Management AB lifted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,276,429 shares of the financial services provider’s stock after buying an additional 39,261 shares during the period. Nordea Investment Management AB’s holdings in Fifth Third Bancorp were worth $59,788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Evolution Wealth Management Inc. bought a new position in Fifth Third Bancorp in the 2nd quarter valued at about $26,000. Westside Investment Management Inc. boosted its holdings in shares of Fifth Third Bancorp by 100.0% during the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 292 shares during the period. Harbor Investment Advisory LLC grew its position in shares of Fifth Third Bancorp by 501.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 620 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 517 shares during the last quarter. United Community Bank increased its stake in shares of Fifth Third Bancorp by 581.0% during the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 581 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Fifth Third Bancorp during the second quarter worth approximately $48,000. Institutional investors own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FITB shares. Janney Montgomery Scott boosted their price target 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. Robert W. Baird increased their price objective on Fifth Third Bancorp from $50.00 to $55.00 in a research report on Wednesday, December 17th. Wall Street Zen downgraded Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Barclays upped their price target on shares of Fifth Third Bancorp from $51.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Fifth Third Bancorp in a research report on Monday, March 16th. They set an “overweight” rating and a $50.50 price target on the stock. Seventeen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.99.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $45.37 on Tuesday. Fifth Third Bancorp has a twelve month low of $32.25 and a twelve month high of $55.44. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.68. The stock’s 50-day simple moving average is $49.85 and its 200 day simple moving average is $46.54. The firm has a market capitalization of $41.09 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.96.

Fifth Third Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, March 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 45.20%.

About Fifth Third Bancorp

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.