Todd Asset Management LLC acquired a new position in Fifth Third Bancorp (NASDAQ:FITB) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 319,878 shares of the financial services provider’s stock, valued at approximately $8,067,000.
Other large investors have also modified their holdings of the company. SRS Capital Advisors Inc. boosted its holdings in Fifth Third Bancorp by 82.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 487 shares in the last quarter. Whitnell & Co. bought a new stake in Fifth Third Bancorp in the first quarter worth $28,000. Guidant Wealth Advisors bought a new stake in Fifth Third Bancorp in the first quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new stake in Fifth Third Bancorp in the first quarter worth $38,000. Finally, JOYN Advisors Inc. boosted its holdings in Fifth Third Bancorp by 38.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 84.28% of the company’s stock.
NASDAQ FITB traded down $0.10 during trading hours on Wednesday, hitting $27.32. The company’s stock had a trading volume of 106,699 shares, compared to its average volume of 7,427,583. Fifth Third Bancorp has a twelve month low of $22.12 and a twelve month high of $32.16. The firm has a market capitalization of $20.14 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.27 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. Fifth Third Bancorp had a net margin of 26.80% and a return on equity of 11.77%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the business posted $0.57 earnings per share. Sell-side analysts expect that Fifth Third Bancorp will post 2.77 EPS for the current fiscal year.
A number of brokerages have recently commented on FITB. BidaskClub lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Sandler O’Neill raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, March 12th. Keefe, Bruyette & Woods raised shares of Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research note on Thursday, April 4th. Finally, ValuEngine cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.67.
In other Fifth Third Bancorp news, CAO Teresa J. Tanner sold 2,918 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $28.75, for a total value of $83,892.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Teresa J. Tanner sold 55,600 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $27.47, for a total transaction of $1,527,332.00. The disclosure for this sale can be found here. Insiders sold 84,727 shares of company stock worth $2,302,901 over the last 90 days. 0.40% of the stock is currently owned by company insiders.
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Fifth Third Bancorp Company Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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