Benin Management CORP Acquires 700 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Benin Management CORP increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,850 shares of the financial services provider’s stock after buying an additional 700 shares during the quarter. Fifth Third Bancorp accounts for about 0.8% of Benin Management CORP’s holdings, making the stock its 27th biggest holding. Benin Management CORP’s holdings in Fifth Third Bancorp were worth $1,871,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Boston Partners lifted its position in shares of Fifth Third Bancorp by 4.1% during the 3rd quarter. Boston Partners now owns 11,098,097 shares of the financial services provider’s stock worth $303,962,000 after buying an additional 442,099 shares during the last quarter. Nuveen Asset Management LLC raised its position in Fifth Third Bancorp by 21,301.1% in the second quarter. Nuveen Asset Management LLC now owns 6,318,040 shares of the financial services provider’s stock valued at $176,274,000 after purchasing an additional 6,288,518 shares during the last quarter. Millennium Management LLC raised its position in Fifth Third Bancorp by 34,364.2% in the third quarter. Millennium Management LLC now owns 5,872,706 shares of the financial services provider’s stock valued at $160,794,000 after purchasing an additional 5,855,666 shares during the last quarter. Russell Investments Group Ltd. raised its position in Fifth Third Bancorp by 23.0% in the third quarter. Russell Investments Group Ltd. now owns 4,583,397 shares of the financial services provider’s stock valued at $125,673,000 after purchasing an additional 855,653 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in Fifth Third Bancorp by 4.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,187,991 shares of the financial services provider’s stock valued at $87,287,000 after purchasing an additional 135,838 shares during the last quarter. Institutional investors and hedge funds own 78.68% of the company’s stock.

Shares of Fifth Third Bancorp stock opened at $29.36 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.87 and a current ratio of 0.88. Fifth Third Bancorp has a 52 week low of $24.17 and a 52 week high of $31.64. The stock has a 50 day moving average price of $30.36 and a two-hundred day moving average price of $28.58. The stock has a market capitalization of $20.82 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 1.39 and a beta of 1.40.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.05). Fifth Third Bancorp had a net margin of 25.65% and a return on equity of 10.96%. The firm had revenue of $2.26 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business posted $0.69 EPS. Research analysts forecast that Fifth Third Bancorp will post 2.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.24 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.96 dividend on an annualized basis and a yield of 3.27%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 34.66%.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $30.53, for a total value of $228,975.00. Following the completion of the sale, the executive vice president now owns 55,474 shares of the company’s stock, valued at $1,693,621.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Philip Mchugh sold 36,382 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $30.56, for a total value of $1,111,833.92. Company insiders own 0.40% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Deutsche Bank raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and set a $32.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, October 23rd. Morgan Stanley decreased their target price on Fifth Third Bancorp from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Thursday, October 3rd. Nomura reaffirmed a “hold” rating and set a $29.00 target price on shares of Fifth Third Bancorp in a research note on Thursday. Finally, UBS Group raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $32.00 to $33.00 in a research note on Friday, October 25th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.43.

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.

See Also: What is a portfolio manager?

Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITB).

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.