Smith Graham & Co. Investment Advisors LP Purchases 680 Shares of Fifth Third Bancorp (NASDAQ:FITB)

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Smith Graham & Co. Investment Advisors LP boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 208,110 shares of the financial services provider’s stock after buying an additional 680 shares during the quarter. Smith Graham & Co. Investment Advisors LP’s holdings in Fifth Third Bancorp were worth $5,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Nuveen Asset Management LLC increased its position in Fifth Third Bancorp by 21,301.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,318,040 shares of the financial services provider’s stock valued at $176,274,000 after purchasing an additional 6,288,518 shares during the period. Wells Fargo & Company MN increased its position in Fifth Third Bancorp by 36.8% during the 2nd quarter. Wells Fargo & Company MN now owns 7,491,535 shares of the financial services provider’s stock valued at $209,013,000 after purchasing an additional 2,014,379 shares during the period. Hexavest Inc. purchased a new position in Fifth Third Bancorp during the 2nd quarter valued at $38,972,000. Unigestion Holding SA increased its position in Fifth Third Bancorp by 250.4% during the 2nd quarter. Unigestion Holding SA now owns 1,422,984 shares of the financial services provider’s stock valued at $39,701,000 after purchasing an additional 1,016,830 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Fifth Third Bancorp by 5.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 17,423,254 shares of the financial services provider’s stock worth $475,481,000 after buying an additional 832,897 shares during the period. Institutional investors own 78.14% of the company’s stock.

Fifth Third Bancorp stock traded up $0.25 during mid-day trading on Friday, reaching $27.33. The stock had a trading volume of 4,615,469 shares, compared to its average volume of 4,659,377. The company has a market capitalization of $19.78 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.34 and a beta of 1.38. The company has a 50-day moving average price of $27.08 and a two-hundred day moving average price of $27.35. Fifth Third Bancorp has a one year low of $22.12 and a one year high of $30.20. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.90 and a quick ratio of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, July 23rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.90 billion. Fifth Third Bancorp had a net margin of 24.39% and a return on equity of 11.51%. During the same quarter in the previous year, the business posted $0.63 EPS. On average, equities research analysts anticipate that Fifth Third Bancorp will post 2.82 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, September 27th. Fifth Third Bancorp’s payout ratio is 37.80%.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Fifth Third Bancorp from $32.00 to $30.50 and set a “neutral” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley reduced their target price on shares of Fifth Third Bancorp from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 3rd. ValuEngine downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Raymond James upped their target price on shares of Fifth Third Bancorp from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Finally, BidaskClub downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Fifth Third Bancorp has an average rating of “Hold” and an average target price of $31.23.

In related news, COO Lars C. Anderson sold 25,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $29.75, for a total value of $743,750.00. Following the transaction, the chief operating officer now owns 241,579 shares in the company, valued at approximately $7,186,975.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy Spence sold 5,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $27.52, for a total transaction of $137,600.00. Following the completion of the transaction, the executive vice president now owns 152,672 shares in the company, valued at approximately $4,201,533.44. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

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.

Read More: Diversification For Individual Investors

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

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