Cullinan Associates Inc. Sells 900 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Cullinan Associates Inc. trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,400 shares of the financial services provider’s stock after selling 900 shares during the quarter. Cullinan Associates Inc.’s holdings in Fifth Third Bancorp were worth $778,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in Fifth Third Bancorp by 63.3% in the 2nd quarter. AQR Capital Management LLC now owns 72,611 shares of the financial services provider’s stock worth $2,615,000 after purchasing an additional 28,156 shares during the period. Cetera Investment Advisers grew its holdings in shares of Fifth Third Bancorp by 3.0% during the second quarter. Cetera Investment Advisers now owns 175,140 shares of the financial services provider’s stock worth $6,391,000 after buying an additional 5,135 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Fifth Third Bancorp by 2.7% in the 3rd quarter. Park Avenue Securities LLC now owns 60,870 shares of the financial services provider’s stock valued at $2,608,000 after acquiring an additional 1,589 shares in the last quarter. Quent Capital LLC boosted its position in Fifth Third Bancorp by 9.9% during the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 248 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Fifth Third Bancorp by 2.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 124,093 shares of the financial services provider’s stock worth $5,316,000 after acquiring an additional 2,466 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 1.7 %

FITB opened at $43.57 on Tuesday. The stock has a fifty day moving average of $44.48 and a 200-day moving average of $43.36. The company has a market capitalization of $29.22 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.40%. Fifth Third Bancorp’s payout ratio is presently 47.13%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FITB. DA Davidson increased their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Barclays lifted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Citigroup boosted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average 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.