Tokio Marine Asset Management Co. Ltd. grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 180.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,526 shares of the financial services provider’s stock after acquiring an additional 18,368 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Fifth Third Bancorp were worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Gotham Asset Management LLC purchased a new position in Fifth Third Bancorp during the 1st quarter valued at $303,000. Nomura Asset Management Co. Ltd. boosted its holdings in Fifth Third Bancorp by 17.9% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 239,042 shares of the financial services provider’s stock valued at $6,072,000 after acquiring an additional 36,344 shares during the period. Catawba Capital Management VA boosted its holdings in Fifth Third Bancorp by 0.6% during the 2nd quarter. Catawba Capital Management VA now owns 10,655 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 65 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Fifth Third Bancorp by 1.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 156,966 shares of the financial services provider’s stock valued at $4,075,000 after acquiring an additional 1,978 shares during the period. Finally, Fox Run Management L.L.C. boosted its holdings in Fifth Third Bancorp by 59.5% during the 2nd quarter. Fox Run Management L.L.C. now owns 27,600 shares of the financial services provider’s stock valued at $716,000 after acquiring an additional 10,300 shares during the period. 82.72% of the stock is currently owned by institutional investors and hedge funds.
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FITB has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $28.00 target price (up from $27.00) on shares of Fifth Third Bancorp in a research report on Tuesday, July 25th. BidaskClub lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fifth Third Bancorp in a research report on Tuesday, October 24th. Bank of America Corporation upped their target price on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $28.33.
Shares of Fifth Third Bancorp (NASDAQ FITB) traded down $0.34 during trading on Friday, hitting $27.67. The company had a trading volume of 6,799,400 shares, compared to its average volume of 4,872,505. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $29.39. The firm has a market cap of $19,523.43, a P/E ratio of 15.37, a P/E/G ratio of 2.29 and a beta of 1.34.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. During the same period in the previous year, the firm posted $0.65 EPS. equities research analysts expect that Fifth Third Bancorp will post 1.8 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, September 28th. Fifth Third Bancorp’s dividend payout ratio is presently 23.97%.
In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 7,004 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $26.21, for a total value of $183,574.84. Following the completion of the transaction, the executive vice president now directly owns 71,793 shares of the company’s stock, valued at approximately $1,881,694.53. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Timothy Spence sold 15,000 shares of the stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $28.86, for a total transaction of $432,900.00. Following the transaction, the executive vice president now directly owns 154,577 shares in the company, valued at approximately $4,461,092.22. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
Fifth Third Bancorp Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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