Strs Ohio cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 15.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,727 shares of the financial services provider’s stock after selling 12,356 shares during the quarter. Strs Ohio’s holdings in Fifth Third Bancorp were worth $1,708,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. Sanders Capital LLC lifted its stake in shares of Fifth Third Bancorp by 59.6% in the fourth quarter. Sanders Capital LLC now owns 17,818,885 shares of the financial services provider’s stock worth $468,179,000 after buying an additional 6,653,168 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Fifth Third Bancorp by 11.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,601,640 shares of the financial services provider’s stock worth $225,927,000 after buying an additional 988,392 shares during the last quarter. Geode Capital Management LLC raised its stake in Fifth Third Bancorp by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 9,475,947 shares of the financial services provider’s stock valued at $222,615,000 after purchasing an additional 574,887 shares during the last quarter. Northern Trust Corp raised its stake in Fifth Third Bancorp by 10.4% during the 4th quarter. Northern Trust Corp now owns 9,220,340 shares of the financial services provider’s stock valued at $216,954,000 after purchasing an additional 868,917 shares during the last quarter. Finally, Norges Bank acquired a new position in Fifth Third Bancorp during the 4th quarter valued at $161,089,000. Institutional investors own 84.28% of the company’s stock.
In other news, EVP Frank R. Forrest sold 26,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $26.37, for a total transaction of $685,620.00. Following the completion of the transaction, the executive vice president now directly owns 62,974 shares of the company’s stock, valued at approximately $1,660,624.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Teresa J. Tanner sold 2,918 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $28.75, for a total transaction of $83,892.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,727 shares of company stock valued at $2,302,901. 0.40% of the stock is owned by company insiders.
Fifth Third Bancorp stock traded down $0.06 during trading hours on Wednesday, reaching $27.36. 4,035,316 shares of the company’s stock traded hands, compared to its average volume of 7,400,438. The company has a market cap of $20.14 billion, a PE ratio of 10.77, a PEG ratio of 1.27 and a beta of 1.36. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Fifth Third Bancorp has a fifty-two week low of $22.12 and a fifty-two week high of $32.01.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Fifth Third Bancorp had a net margin of 26.80% and a return on equity of 11.77%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company posted $0.57 EPS. Research analysts forecast that Fifth Third Bancorp will post 2.77 EPS for the current year.
Several equities analysts recently commented on the stock. BidaskClub lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Sandler O’Neill raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, March 12th. Keefe, Bruyette & Woods raised shares of Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a report on Thursday, April 4th. Finally, ValuEngine lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company. Fifth Third Bancorp has a consensus rating of “Hold” and an average 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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