Tokio Marine Asset Management Co. Ltd. cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,792 shares of the financial services provider’s stock after selling 1,444 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Fifth Third Bancorp were worth $489,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. BB&T Securities LLC raised its stake in Fifth Third Bancorp by 6,173.4% in the first quarter. BB&T Securities LLC now owns 644,838 shares of the financial services provider’s stock worth $10,762,000 after buying an additional 634,559 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in Fifth Third Bancorp during the first quarter worth about $27,053,000. Canada Pension Plan Investment Board raised its stake in Fifth Third Bancorp by 160.4% in the first quarter. Canada Pension Plan Investment Board now owns 925,820 shares of the financial services provider’s stock worth $15,452,000 after buying an additional 570,300 shares during the last quarter. Willis Investment Counsel raised its stake in Fifth Third Bancorp by 33.9% in the first quarter. Willis Investment Counsel now owns 585,370 shares of the financial services provider’s stock worth $9,770,000 after buying an additional 148,200 shares during the last quarter. Finally, Credit Agricole S A raised its stake in Fifth Third Bancorp by 18.6% in the first quarter. Credit Agricole S A now owns 1,430,096 shares of the financial services provider’s stock worth $23,869,000 after buying an additional 224,172 shares during the last quarter. 79.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded down 0.24% during trading on Friday, hitting $20.69. 6,015,005 shares of the stock traded hands. The firm has a 50 day moving average price of $20.25 and a 200-day moving average price of $18.61. 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 has a one year low of $13.84 and a one year high of $21.14.
Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company posted $0.36 earnings per share. Analysts anticipate that Fifth Third Bancorp will post $1.60 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 28th. Fifth Third Bancorp’s payout ratio is presently 25.49%.
A number of research firms recently issued reports on FITB. Credit Agricole SA upped their target price on Fifth Third Bancorp from $19.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, September 23rd. Compass Point raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating in a research note on Thursday, September 22nd. Wedbush assumed coverage on Fifth Third Bancorp in a research note on Thursday. They set a “neutral” rating and a $22.00 price target on the stock. Jefferies Group lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating and set a $22.00 price target on the stock. in a research note on Friday. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus target price of $20.64.
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.
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).
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.