Deprince Race & Zollo Inc. boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,024,678 shares of the financial services provider’s stock after buying an additional 8,448 shares during the period. Fifth Third Bancorp accounts for 1.1% of Deprince Race & Zollo Inc.’s portfolio, making the stock its 15th largest position. Deprince Race & Zollo Inc.’s holdings in Fifth Third Bancorp were worth $53,204,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Duncker Streett & Co. Inc. increased its position in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,419 shares of the financial services provider’s stock worth $113,000 after buying an additional 20 shares during the period. Acrospire Investment Management LLC purchased a new position in shares of Fifth Third Bancorp during the first quarter worth approximately $112,000. Atria Investments LLC purchased a new position in shares of Fifth Third Bancorp during the second quarter worth approximately $179,000. Stratos Wealth Partners LTD. purchased a new position in shares of Fifth Third Bancorp during the first quarter worth approximately $178,000. Finally, Pinnacle Holdings LLC increased its position in shares of Fifth Third Bancorp by 74.1% in the first quarter. Pinnacle Holdings LLC now owns 11,275 shares of the financial services provider’s stock worth $188,000 after buying an additional 4,800 shares during the period. 79.73% of the stock is owned by institutional investors.
Fifth Third Bancorp (NASDAQ:FITB) traded up 1.09% during midday trading on Friday, reaching $20.46. 6,055,801 shares of the company’s stock were exchanged. The stock has a market cap of $15.68 billion, a PE ratio of 9.97 and a beta of 1.27. The firm has a 50 day moving average of $20.04 and a 200-day moving average of $18.47. Fifth Third Bancorp has a 12 month low of $13.84 and a 12 month high of $21.14.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Fifth Third Bancorp had a net margin of 23.36% and a return on equity of 9.25%. During the same period in the prior year, the business earned $0.36 EPS. On average, equities research analysts predict that Fifth Third Bancorp will post $1.60 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Wednesday, September 28th. Fifth Third Bancorp’s payout ratio is 25.49%.
A number of brokerages have recently commented on FITB. Nomura reissued a “hold” rating on shares of Fifth Third Bancorp in a research report on Saturday, July 9th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 9th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, June 4th. FBR & Co reaffirmed a “hold” rating and set a $20.00 target price on shares of Fifth Third Bancorp in a report on Friday, July 29th. Finally, Citigroup Inc. lifted their target price on shares of Fifth Third Bancorp from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, June 6th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $20.50.
Fifth Third Bancorp Company 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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