GAM Holding AG grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 44.9% in the 1st quarter, Holdings Channel reports. The firm owned 25,730 shares of the financial services provider’s stock after acquiring an additional 7,974 shares during the quarter. GAM Holding AG’s holdings in Fifth Third Bancorp were worth $649,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of FITB. SRS Capital Advisors Inc. boosted its stake in Fifth Third Bancorp by 82.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 487 shares in the last quarter. Whitnell & Co. acquired a new stake in Fifth Third Bancorp in the 1st quarter worth approximately $28,000. Guidant Wealth Advisors acquired a new stake in Fifth Third Bancorp in the 1st quarter worth approximately $29,000. Mizuho Securities Co. Ltd. acquired a new stake in Fifth Third Bancorp in the 1st quarter worth approximately $38,000. Finally, JOYN Advisors Inc. boosted its stake in Fifth Third Bancorp by 38.6% in the 4th quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 480 shares in the last quarter. 81.88% of the stock is currently owned by institutional investors.
FITB opened at $27.41 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market capitalization of $20.17 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.34 and a beta of 1.35. Fifth Third Bancorp has a 12 month low of $22.12 and a 12 month high of $31.69.
A number of analysts recently commented on the stock. ValuEngine upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. BidaskClub cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Wells Fargo & Co lifted their target price on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 4th. Finally, UBS Group lifted their price objective on shares of Fifth Third Bancorp from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $31.60.
In other news, CAO Teresa J. Tanner sold 55,600 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $27.47, for a total value of $1,527,332.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jewell D. Hoover sold 3,739 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $26.51, for a total value of $99,120.89. Following the completion of the transaction, the director now directly owns 50,397 shares of the company’s stock, valued at approximately $1,336,024.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,466 shares of company stock worth $1,716,402. 0.40% of the stock is currently owned by corporate insiders.
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Fifth Third Bancorp Profile
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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