Benin Management CORP trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 26.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,850 shares of the financial services provider’s stock after selling 25,000 shares during the period. Fifth Third Bancorp makes up approximately 0.8% of Benin Management CORP’s investment portfolio, making the stock its 24th largest position. Benin Management CORP’s holdings in Fifth Third Bancorp were worth $2,119,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Advisor Group Inc. grew its stake in Fifth Third Bancorp by 19.7% during the third quarter. Advisor Group Inc. now owns 36,589 shares of the financial services provider’s stock worth $1,024,000 after buying an additional 6,033 shares in the last quarter. Pegasus Partners Ltd. grew its stake in Fifth Third Bancorp by 69.5% during the third quarter. Pegasus Partners Ltd. now owns 186,989 shares of the financial services provider’s stock worth $5,232,000 after buying an additional 76,647 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Fifth Third Bancorp by 14.4% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 992,727 shares of the financial services provider’s stock worth $27,777,000 after buying an additional 125,124 shares in the last quarter. Korea Investment CORP grew its stake in Fifth Third Bancorp by 2.2% during the third quarter. Korea Investment CORP now owns 269,823 shares of the financial services provider’s stock worth $7,550,000 after buying an additional 5,700 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in Fifth Third Bancorp during the third quarter worth about $642,000. Hedge funds and other institutional investors own 83.86% of the company’s stock.
Fifth Third Bancorp (NASDAQ:FITB) traded up $0.21 during trading hours on Thursday, reaching $32.49. 4,410,800 shares of the company traded hands, compared to its average volume of 5,558,764. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93. Fifth Third Bancorp has a twelve month low of $23.20 and a twelve month high of $32.69. The firm has a market cap of $22,776.16, a P/E ratio of 12.17, a PEG ratio of 2.21 and a beta of 1.35.
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, hitting the consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $0.65 EPS. equities analysts predict that Fifth Third Bancorp will post 1.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $0.16 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.64 annualized dividend and a yield of 1.97%. Fifth Third Bancorp’s dividend payout ratio is presently 23.97%.
In related news, EVP Timothy Spence sold 15,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by company insiders.
A number of research firms have recently weighed in on FITB. BidaskClub upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, January 13th. Zacks Investment Research downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 12th. Robert W. Baird restated a “sell” rating and issued a $29.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, January 3rd. Barclays raised their price target on shares of Fifth Third Bancorp from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Morgan Stanley raised their price target on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 13th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $29.33.
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.
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