Fifth Third Bancorp $FITB Stock Holdings Trimmed by Vinva Investment Management Ltd

Vinva Investment Management Ltd lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 29.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 39,497 shares of the financial services provider’s stock after selling 16,547 shares during the quarter. Vinva Investment Management Ltd’s holdings in Fifth Third Bancorp were worth $1,793,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Fifth Third Bancorp in the 2nd quarter worth approximately $357,440,000. Invesco Ltd. raised its position in shares of Fifth Third Bancorp by 16.6% during the 2nd quarter. Invesco Ltd. now owns 20,677,686 shares of the financial services provider’s stock valued at $850,473,000 after acquiring an additional 2,941,333 shares in the last quarter. Vanguard Group Inc. lifted its stake in Fifth Third Bancorp by 1.6% during the second quarter. Vanguard Group Inc. now owns 83,849,824 shares of the financial services provider’s stock worth $3,448,743,000 after purchasing an additional 1,301,624 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Fifth Third Bancorp during the second quarter worth $52,643,000. Finally, Franklin Resources Inc. boosted its holdings in Fifth Third Bancorp by 20.7% in the second quarter. Franklin Resources Inc. now owns 7,240,976 shares of the financial services provider’s stock worth $297,821,000 after purchasing an additional 1,240,709 shares during the period. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 2,250 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the sale, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.

Fifth Third Bancorp Stock Performance

FITB stock opened at $46.98 on Tuesday. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. The stock has a market capitalization of $42.37 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.96 and a beta of 0.96. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The stock’s fifty day moving average is $50.65 and its two-hundred day moving average is $46.61.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FITB shares. Robert W. Baird increased their target price on shares of Fifth Third Bancorp from $50.00 to $55.00 in a report on Wednesday, December 17th. Weiss Ratings raised shares of Fifth Third Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 26th. Jefferies Financial Group boosted their price objective on shares of Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Citigroup increased their price objective on shares of Fifth Third Bancorp from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Finally, Stephens raised their target price on shares of Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Seventeen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.91.

About Fifth Third Bancorp

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.