Novare Capital Management LLC raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 158,226 shares of the financial services provider’s stock after acquiring an additional 6,900 shares during the quarter. Novare Capital Management LLC’s holdings in Fifth Third Bancorp were worth $4,427,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of FITB. Sun Life Financial INC raised its holdings in Fifth Third Bancorp by 55,050.0% during the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 5,505 shares during the period. Duncker Streett & Co. Inc. increased its holdings in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 17 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in shares of Fifth Third Bancorp by 14.2% in the second quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock worth $177,000 after purchasing an additional 847 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Fifth Third Bancorp in the third quarter worth about $202,000. Finally, Regentatlantic Capital LLC bought a new stake in shares of Fifth Third Bancorp in the third quarter worth about $205,000. 81.45% of the stock is currently owned by institutional investors and hedge funds.
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In related news, EVP Timothy Spence sold 15,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the transaction, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.38% of the company’s stock.
FITB has been the topic of several research reports. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $28.00 target price (up from $27.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 25th. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Thursday, July 27th. BidaskClub raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Wells Fargo & Company began coverage on Fifth Third Bancorp in a research note on Wednesday, August 9th. They set a “market perform” rating and a $27.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $28.23.
Fifth Third Bancorp (NASDAQ:FITB) traded up $0.01 during mid-day trading on Friday, hitting $28.47. 3,942,400 shares of the stock traded hands, compared to its average volume of 5,766,153. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89. Fifth Third Bancorp has a twelve month low of $23.20 and a twelve month high of $29.39. The stock has a market cap of $20,100.00, a price-to-earnings ratio of 15.81, a P/E/G ratio of 2.36 and a beta of 1.34.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.48. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same period last year, the company posted $0.65 EPS. research analysts expect that Fifth Third Bancorp will post 1.8 EPS for the current year.
Fifth Third Bancorp Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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