Strs Ohio boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,191 shares of the financial services provider’s stock after buying an additional 4,980 shares during the period. Strs Ohio’s holdings in Fifth Third Bancorp were worth $1,305,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of FITB. Ngam Advisors L.P. raised its stake in Fifth Third Bancorp by 45.7% in the first quarter. Ngam Advisors L.P. now owns 199,013 shares of the financial services provider’s stock valued at $3,322,000 after buying an additional 62,384 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Fifth Third Bancorp by 1.4% in the first quarter. BlackRock Group LTD now owns 6,582,956 shares of the financial services provider’s stock valued at $109,869,000 after buying an additional 94,050 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Fifth Third Bancorp by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 20,366,757 shares of the financial services provider’s stock valued at $339,921,000 after buying an additional 81,851 shares in the last quarter. Sentry Investment Management LLC raised its stake in shares of Fifth Third Bancorp by 5.5% in the first quarter. Sentry Investment Management LLC now owns 60,048 shares of the financial services provider’s stock valued at $1,002,000 after buying an additional 3,120 shares in the last quarter. Finally, Acrospire Investment Management LLC bought a new stake in shares of Fifth Third Bancorp during the first quarter valued at $112,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.
Fifth Third Bancorp (NASDAQ:FITB) traded down 1.40% during midday trading on Tuesday, hitting $20.39. The stock had a trading volume of 7,406,111 shares. The stock has a 50-day moving average of $20.28 and a 200-day moving average of $18.66. Fifth Third Bancorp has a 52 week low of $13.84 and a 52 week high of $21.14. The firm has a market cap of $15.63 billion, a P/E ratio of 9.93 and a beta of 1.33.
Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.41 EPS 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 in the prior year, the firm earned $0.36 earnings per share. Analysts forecast that Fifth Third Bancorp will post $1.60 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.52 dividend on an annualized basis and a yield of 2.55%. Fifth Third Bancorp’s dividend payout ratio is presently 25.49%.
Several equities research analysts have weighed in on FITB shares. Barclays PLC reaffirmed an “equal weight” rating and issued a $21.00 target price on shares of Fifth Third Bancorp in a research report on Sunday, July 10th. Credit Agricole SA increased their target price on Fifth Third Bancorp from $19.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, September 23rd. Stephens lowered Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 5th. Morgan Stanley lowered Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $21.00 to $20.00 in a research report on Tuesday, July 5th. Finally, Credit Suisse Group AG reaffirmed a “sell” rating on shares of Fifth Third Bancorp in a research report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target 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.
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