Trillium Asset Management LLC increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 260,635 shares of the financial services provider’s stock after buying an additional 2,580 shares during the period. Trillium Asset Management LLC’s holdings in Fifth Third Bancorp were worth $4,584,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can bought a new position in shares of Fifth Third Bancorp during the second quarter valued at $58,829,000. Hexavest Inc. increased its position in shares of Fifth Third Bancorp by 28,864.0% in the second quarter. Hexavest Inc. now owns 1,541,464 shares of the financial services provider’s stock valued at $27,114,000 after buying an additional 1,536,142 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Fifth Third Bancorp by 69.2% in the first quarter. Wellington Management Group LLP now owns 2,737,728 shares of the financial services provider’s stock valued at $45,693,000 after buying an additional 1,120,110 shares during the last quarter. 1832 Asset Management L.P. bought a new position in shares of Fifth Third Bancorp during the first quarter valued at $27,053,000. Finally, NN Investment Partners Holdings N.V. bought a new position in shares of Fifth Third Bancorp during the first quarter valued at $12,160,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.
Fifth Third Bancorp (NASDAQ:FITB) traded down 0.24% during mid-day trading on Friday, reaching $20.69. The company’s stock had a trading volume of 6,015,005 shares. The firm’s 50 day moving average is $20.21 and its 200-day moving average is $18.59. Fifth Third Bancorp has a 12-month low of $13.84 and a 12-month high of $21.14. The company has a market cap of $15.86 billion, a PE ratio of 10.08 and a beta of 1.33.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same period last year, the firm earned $0.36 EPS. Equities analysts anticipate that Fifth Third Bancorp will post $1.60 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a $0.13 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.51%. Fifth Third Bancorp’s payout ratio is 25.49%.
FITB has been the subject of several analyst reports. Barclays PLC restated an “equal weight” rating and set a $21.00 price target on shares of Fifth Third Bancorp in a report on Sunday, July 10th. Credit Agricole SA raised their price target on Fifth Third Bancorp from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, September 23rd. Stephens downgraded Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday. Morgan Stanley downgraded Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $21.00 to $20.00 in a report on Tuesday, July 5th. Finally, Credit Suisse Group AG reiterated a “sell” rating on shares of Fifth Third Bancorp in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $20.72.
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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