Caisse DE Depot ET Placement DU Quebec Increases Position in Fifth Third Bancorp (FITB)

Caisse DE Depot ET Placement DU Quebec increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,190 shares of the financial services provider’s stock after purchasing an additional 3,500 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Fifth Third Bancorp were worth $4,726,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Fifth Third Bancorp by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock worth $1,502,604,000 after buying an additional 639,361 shares during the period. Sanders Capital LLC grew its position in shares of Fifth Third Bancorp by 1.7% during the 3rd quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock worth $390,680,000 after buying an additional 224,800 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Fifth Third Bancorp by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock worth $269,182,000 after buying an additional 431,863 shares during the period. Janus Henderson Group PLC grew its position in shares of Fifth Third Bancorp by 7,461.4% during the 2nd quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after buying an additional 7,511,357 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Fifth Third Bancorp by 3.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,083,708 shares of the financial services provider’s stock worth $114,232,000 after buying an additional 118,177 shares during the period. Hedge funds and other institutional investors own 83.97% of the company’s stock.

Several research firms have recently issued reports on FITB. BidaskClub lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Oppenheimer reiterated a “hold” rating on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Bank of America lifted their price objective on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Monday, September 25th. Finally, Nomura lifted their price objective on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Four analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.23.

Shares of Fifth Third Bancorp (NASDAQ FITB) opened at $30.37 on Friday. The company has a market capitalization of $21,449.67, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 2.53 and a beta of 1.35. 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 12 month low of $23.20 and a 12 month high of $31.83.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $1.54 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.65 EPS. equities research analysts expect that Fifth Third Bancorp will post 1.79 earnings per share for the current fiscal year.

In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the sale, the executive vice president now owns 154,577 shares in the company, valued at approximately $4,461,092.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

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Fifth Third Bancorp Company 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.

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

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