Oppenheimer & Co. Inc. grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 23.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,822 shares of the financial services provider’s stock after purchasing an additional 7,442 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Fifth Third Bancorp were worth $1,115,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of FITB. Horan Capital Advisors LLC. bought a new stake in shares of Fifth Third Bancorp in the third quarter valued at about $102,000. Norinchukin Bank The raised its holdings in Fifth Third Bancorp by 10.7% in the third quarter. Norinchukin Bank The now owns 32,787 shares of the financial services provider’s stock worth $917,000 after purchasing an additional 3,159 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Fifth Third Bancorp in the third quarter worth about $381,000. Cipher Capital LP bought a new position in Fifth Third Bancorp in the third quarter worth about $1,537,000. Finally, Novare Capital Management LLC raised its holdings in Fifth Third Bancorp by 4.6% in the third quarter. Novare Capital Management LLC now owns 158,226 shares of the financial services provider’s stock worth $4,427,000 after purchasing an additional 6,900 shares in the last quarter. 83.97% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the stock. Oppenheimer reiterated a “hold” rating on shares of Fifth Third Bancorp in a report on Thursday, December 7th. BMO Capital Markets restated a “hold” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a report on Friday, December 8th. Morgan Stanley upped their price objective on shares of Fifth Third Bancorp from $30.00 to $34.00 and gave the company an “equal weight” rating in a report on Wednesday. Nomura upped their price objective on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Finally, Robert W. Baird lowered Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research report on Monday, October 2nd. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the company. Fifth Third Bancorp has an average rating of “Hold” and an average target price of $28.68.
Fifth Third Bancorp (NASDAQ FITB) traded down $0.27 during midday trading on Thursday, reaching $29.67. The company had a trading volume of 9,139,292 shares, compared to its average volume of 5,825,614. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $31.83. The firm has a market cap of $20,960.00, a P/E ratio of 16.92, a P/E/G ratio of 2.54 and a beta of 1.35. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93.
Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period last year, the company earned $0.65 EPS. research analysts predict that Fifth Third Bancorp will post 1.79 EPS for the current fiscal year.
In other news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total transaction of $432,900.00. Following the completion of the transaction, the executive vice president now directly owns 154,577 shares in the company, valued at approximately $4,461,092.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.
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About Fifth Third Bancorp
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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