Advisor Group Inc. raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 19.7% during the third quarter, according to the company in its most recent disclosure 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 quarter.
Several other hedge funds have also modified their holdings of the company. Sun Life Financial INC grew its holdings in shares of 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 buying an additional 5,505 shares during the last quarter. Duncker Streett & Co. Inc. boosted its holdings in 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 valued at $168,000 after purchasing an additional 17 shares during the last quarter. Cornerstone Advisors Inc. boosted its holdings in 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 valued at $177,000 after purchasing an additional 847 shares during the last quarter. Regentatlantic Capital LLC purchased a new stake in Fifth Third Bancorp in the third quarter valued at $205,000. Finally, Chicago Equity Partners LLC purchased a new stake in Fifth Third Bancorp in the third quarter valued at $231,000. 83.97% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the sale, the executive vice president now owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.38% of the company’s stock.
Fifth Third Bancorp (FITB) traded down $0.20 during mid-day trading on Wednesday, reaching $30.58. 8,257,928 shares of the company’s stock were exchanged, compared to its average volume of 5,755,094. The firm has a market cap of $22,127.03, a P/E ratio of 17.42, a price-to-earnings-growth ratio of 2.61 and a beta of 1.35. 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 12 month low of $23.20 and a 12 month high of $31.83.
Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. analysts anticipate that Fifth Third Bancorp will post 1.79 earnings per share for the current year.
Several equities research analysts have commented on the stock. BidaskClub lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Robert W. Baird lowered shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 price target on the stock. in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Wednesday, October 11th. Nomura upped their price objective on shares of Fifth Third Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, October 26th. Finally, Instinet reiterated a “neutral” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Fifth Third Bancorp in a research report on Saturday, September 30th. Four equities 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 presently has an average rating of “Hold” and an average target price of $28.23.
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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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