IFM Investors Pty Ltd Has $2.32 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

IFM Investors Pty Ltd grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 58.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,888 shares of the financial services provider’s stock after buying an additional 31,440 shares during the quarter. IFM Investors Pty Ltd’s holdings in Fifth Third Bancorp were worth $2,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FITB. Russell Investments Group Ltd. lifted its position in shares of Fifth Third Bancorp by 23.0% in the third quarter. Russell Investments Group Ltd. now owns 4,583,397 shares of the financial services provider’s stock worth $125,673,000 after purchasing an additional 855,653 shares in the last quarter. Comerica Bank lifted its position in shares of Fifth Third Bancorp by 8.9% in the third quarter. Comerica Bank now owns 360,928 shares of the financial services provider’s stock worth $10,174,000 after purchasing an additional 29,474 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Fifth Third Bancorp by 26.7% in the third quarter. California Public Employees Retirement System now owns 1,806,787 shares of the financial services provider’s stock worth $49,470,000 after purchasing an additional 381,119 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Fifth Third Bancorp by 4.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,187,991 shares of the financial services provider’s stock worth $87,287,000 after purchasing an additional 135,838 shares in the last quarter. Finally, Usca Ria LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter worth approximately $463,000. Institutional investors own 78.06% of the company’s stock.

In other news, EVP Timothy Spence sold 5,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $27.52, for a total value of $137,600.00. Following the transaction, the executive vice president now owns 152,672 shares of the company’s stock, valued at $4,201,533.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Evan Bayh purchased 4,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was purchased at an average cost of $25.93 per share, for a total transaction of $103,720.00. Following the transaction, the director now owns 48,517 shares of the company’s stock, valued at $1,258,045.81. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company’s stock.

A number of research firms have recently issued reports on FITB. ValuEngine lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Citigroup reduced their price target on shares of Fifth Third Bancorp from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Raymond James increased their price target on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley cut their price objective 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. Finally, JPMorgan Chase & Co. cut their price objective 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $31.43.

FITB traded up $0.03 during midday trading on Friday, hitting $30.54. 37,910 shares of the company’s stock traded hands, compared to its average volume of 5,816,547. The company has a market cap of $22.17 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.50 and a beta of 1.40. The stock’s fifty day simple moving average is $27.84 and its 200-day simple moving average is $27.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.87. Fifth Third Bancorp has a one year low of $22.12 and a one year high of $30.89.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. Fifth Third Bancorp had a net margin of 24.36% and a return on equity of 11.40%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm posted $0.64 earnings per share. On average, research analysts expect that Fifth Third Bancorp will post 2.81 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date was Friday, September 27th. Fifth Third Bancorp’s dividend payout ratio is 37.80%.

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

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