Fifth Third Bancorp (FITB) Stake Raised by Canal Capital Management LLC

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Canal Capital Management LLC grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,857 shares of the financial services provider’s stock after buying an additional 3,709 shares during the period. Canal Capital Management LLC’s holdings in Fifth Third Bancorp were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Legacy Bridge LLC bought a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $97,000. Rational Advisors LLC raised its holdings in Fifth Third Bancorp by 244.7% during the third quarter. Rational Advisors LLC now owns 3,588 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 2,547 shares in the last quarter. Clean Yield Group bought a new stake in Fifth Third Bancorp during the fourth quarter worth approximately $100,000. First Mercantile Trust Co. raised its holdings in Fifth Third Bancorp by 48.6% during the fourth quarter. First Mercantile Trust Co. now owns 7,280 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 2,380 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in Fifth Third Bancorp by 17.6% during the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 8,000 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 1,200 shares in the last quarter. 82.67% of the stock is currently owned by institutional investors.

Fifth Third Bancorp stock opened at $26.43 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.34 and a beta of 1.32. Fifth Third Bancorp has a 1 year low of $22.12 and a 1 year high of $34.67.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.02. Fifth Third Bancorp had a net margin of 27.32% and a return on equity of 12.34%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the company posted $0.48 EPS. Sell-side analysts predict that Fifth Third Bancorp will post 2.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.33%. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, December 28th. Fifth Third Bancorp’s payout ratio is presently 34.65%.

FITB has been the topic of several recent analyst reports. BidaskClub raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Bank of America set a $29.00 price target on shares of Fifth Third Bancorp and gave the stock a “hold” rating in a research report on Wednesday, January 23rd. Morgan Stanley decreased their price target on shares of Fifth Third Bancorp from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 11th. Raymond James set a $30.00 price target on shares of Fifth Third Bancorp and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Finally, Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 11th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $31.13.

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About Fifth Third Bancorp

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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