Nissay Asset Management Corp Japan ADV decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 9.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,665 shares of the financial services provider’s stock after selling 10,235 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Fifth Third Bancorp were worth $2,463,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in FITB. Sanders Capital LLC increased its holdings in shares of Fifth Third Bancorp by 3.3% in the 1st quarter. Sanders Capital LLC now owns 18,398,085 shares of the financial services provider’s stock worth $518,001,000 after purchasing an additional 579,200 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Fifth Third Bancorp by 11.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,601,640 shares of the financial services provider’s stock worth $225,927,000 after purchasing an additional 988,392 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Fifth Third Bancorp by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 9,475,947 shares of the financial services provider’s stock worth $222,615,000 after purchasing an additional 574,887 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Fifth Third Bancorp by 10.4% in the 4th quarter. Northern Trust Corp now owns 9,220,340 shares of the financial services provider’s stock worth $216,954,000 after purchasing an additional 868,917 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Fifth Third Bancorp in the 4th quarter worth $161,089,000. Institutional investors and hedge funds own 84.28% of the company’s stock.
In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 26,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $26.37, for a total transaction of $685,620.00. Following the completion of the sale, the executive vice president now owns 62,974 shares of the company’s stock, valued at $1,660,624.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Teresa J. Tanner sold 2,918 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $28.75, for a total value of $83,892.50. The disclosure for this sale can be found here. Insiders sold 84,727 shares of company stock valued at $2,302,901 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.
Shares of FITB opened at $27.38 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.89 and a quick ratio of 0.89. Fifth Third Bancorp has a one year low of $22.12 and a one year high of $34.53. The firm has a market capitalization of $19.83 billion, a P/E ratio of 10.78, a PEG ratio of 1.26 and a beta of 1.36.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.04. Fifth Third Bancorp had a return on equity of 11.77% and a net margin of 26.80%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post 2.77 EPS for the current fiscal year.
A number of analysts have commented on the company. BidaskClub lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 26th. BMO Capital Markets lifted their target price on Fifth Third Bancorp from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. They noted that the move was a valuation call. UBS Group lifted their target price on Fifth Third Bancorp from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Barclays lifted their target price on Fifth Third Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $31.67.
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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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