BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $11.40 Million Stake in Fifth Third Bancorp (FITB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 407,412 shares of the financial services provider’s stock after selling 39,359 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.06% of Fifth Third Bancorp worth $11,399,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Fifth Third Bancorp by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock worth $1,502,604,000 after purchasing an additional 639,361 shares in the last quarter. Sanders Capital LLC grew its holdings in shares of Fifth Third Bancorp by 1.7% during the 3rd quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock worth $390,680,000 after purchasing an additional 224,800 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Fifth Third Bancorp by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock worth $269,182,000 after purchasing an additional 431,863 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Fifth Third Bancorp by 7,461.4% during the 2nd quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after purchasing an additional 7,511,357 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of Fifth Third Bancorp by 3.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,083,708 shares of the financial services provider’s stock worth $114,232,000 after purchasing an additional 118,177 shares in the last quarter. 83.97% of the stock is currently owned by institutional investors.

Fifth Third Bancorp (NASDAQ:FITB) opened at $30.37 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $21,449.67, a PE ratio of 16.89, a price-to-earnings-growth ratio of 2.53 and a beta of 1.35. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $31.83.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting the consensus estimate of $0.48. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. During the same period last year, the company earned $0.65 earnings per share. equities research analysts anticipate that Fifth Third Bancorp will post 1.79 EPS for the current fiscal year.

Several research firms have recently issued reports on FITB. BidaskClub lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Oppenheimer restated a “hold” rating on shares of Fifth Third Bancorp in a research report on Tuesday, October 24th. Bank of America upped their price objective on Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Monday, September 25th. Finally, Nomura upped their price objective on Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.23.

In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the transaction, the executive vice president now directly owns 154,577 shares in the company, valued at $4,461,092.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by company insiders.

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About Fifth Third Bancorp

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)

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