Convergence Investment Partners LLC grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 40.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,950 shares of the financial services provider’s stock after purchasing an additional 36,634 shares during the period. Convergence Investment Partners LLC’s holdings in Fifth Third Bancorp were worth $3,852,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. 440 Investment Group LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter worth about $667,000. Acropolis Investment Management LLC increased its stake in Fifth Third Bancorp by 520.6% during the fourth quarter. Acropolis Investment Management LLC now owns 38,032 shares of the financial services provider’s stock worth $1,154,000 after purchasing an additional 31,904 shares during the period. New England Research & Management Inc. purchased a new stake in Fifth Third Bancorp during the fourth quarter worth about $692,000. Atlantic Trust Group LLC purchased a new stake in Fifth Third Bancorp during the third quarter worth about $1,230,000. Finally, Hellman Jordan Management Co. Inc. MA purchased a new stake in Fifth Third Bancorp during the third quarter worth about $614,000. Institutional investors own 83.86% of the company’s stock.
Shares of Fifth Third Bancorp (NASDAQ FITB) traded up $0.06 on Tuesday, reaching $32.42. The company had a trading volume of 1,966,200 shares, compared to its average volume of 5,622,967. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $22,950.00, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 2.21 and a beta of 1.35. Fifth Third Bancorp has a 52-week low of $23.20 and a 52-week high of $32.36.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.48. The firm 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 prior year, the company posted $0.65 earnings per share. equities research analysts predict that Fifth Third Bancorp will post 1.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, December 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 24.15%.
A number of analysts have issued reports on the stock. Nomura boosted their price target on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Monday, January 8th. BidaskClub upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Robert W. Baird lowered shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research note on Monday, October 2nd. Finally, Instinet restated a “neutral” rating and set a $29.00 target price (up from $28.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 30th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $29.33.
In related news, EVP Timothy Spence sold 15,000 shares of the company’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 completion of the transaction, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.
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