Fifth Third Bancorp (FITB) Position Raised by Advisor Group Inc.

Advisor Group Inc. boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 19.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,589 shares of the financial services provider’s stock after purchasing an additional 6,033 shares during the period. Advisor Group Inc.’s holdings in Fifth Third Bancorp were worth $1,024,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. Prudential Financial Inc. grew its holdings in Fifth Third Bancorp by 1.5% during the 2nd quarter. Prudential Financial Inc. now owns 2,234,087 shares of the financial services provider’s stock worth $57,997,000 after acquiring an additional 33,660 shares in the last quarter. Cornerstone Advisors Inc. grew its holdings in Fifth Third Bancorp by 14.2% during the 2nd quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 847 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Fifth Third Bancorp by 4.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,472,742 shares of the financial services provider’s stock worth $38,232,000 after acquiring an additional 68,859 shares in the last quarter. Capital Fund Management S.A. grew its holdings in Fifth Third Bancorp by 69.8% during the 2nd quarter. Capital Fund Management S.A. now owns 321,226 shares of the financial services provider’s stock worth $8,339,000 after acquiring an additional 132,047 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Fifth Third Bancorp by 58.0% during the 2nd quarter. Amalgamated Bank now owns 84,592 shares of the financial services provider’s stock worth $2,196,000 after acquiring an additional 31,048 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

FITB has been the subject of several recent analyst reports. Royal Bank Of Canada raised their price objective on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Thursday, July 27th. BMO Capital Markets reissued a “market perform” rating and set a $28.00 price objective (up from $27.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 25th. Sanford C. Bernstein reissued a “market perform” rating and set a $31.00 price objective (up from $29.00) on shares of Fifth Third Bancorp in a report on Saturday, September 16th. Finally, Citigroup Inc. reissued a “neutral” rating and set a $31.00 price objective (up from $28.00) on shares of Fifth Third Bancorp in a report on Monday, October 9th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.23.

COPYRIGHT VIOLATION NOTICE: This news story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The legal version of this news story can be viewed at https://ledgergazette.com/2017/11/21/fifth-third-bancorp-fitb-position-raised-by-advisor-group-inc.html.

Shares of Fifth Third Bancorp (NASDAQ FITB) opened at $28.57 on Tuesday. The firm has a market cap of $20,160.00, a PE ratio of 15.81, a P/E/G ratio of 2.37 and a beta of 1.34. Fifth Third Bancorp has a 52-week low of $23.20 and a 52-week high of $29.39. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate 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 firm posted $0.65 EPS. equities analysts predict that Fifth Third Bancorp will post 1.79 earnings per share for the current year.

In related news, EVP Timothy Spence sold 15,000 shares of Fifth Third Bancorp 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 sale, the executive vice president now directly owns 154,577 shares in the company, valued at approximately $4,461,092.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

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.

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply