Acropolis Investment Management LLC boosted its position in Fifth Third Bancorp (NASDAQ:FITB) by 520.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,032 shares of the financial services provider’s stock after buying an additional 31,904 shares during the quarter. Acropolis Investment Management LLC’s holdings in Fifth Third Bancorp were worth $1,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of FITB. Vanguard Group Inc. raised its holdings in Fifth Third Bancorp by 1.1% in the second quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock worth $1,502,604,000 after purchasing an additional 639,361 shares in the last quarter. Sanders Capital LLC raised its holdings in Fifth Third Bancorp by 1.7% in the third quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock worth $390,680,000 after purchasing an additional 224,800 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Fifth Third Bancorp by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock worth $269,182,000 after purchasing an additional 431,863 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Fifth Third Bancorp by 7,461.4% in the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after purchasing an additional 7,511,357 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Fifth Third Bancorp by 0.9% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,370,533 shares of the financial services provider’s stock worth $206,228,000 after purchasing an additional 68,086 shares in the last quarter. 83.86% of the stock is owned by institutional investors and hedge funds.
Shares of Fifth Third Bancorp (NASDAQ FITB) traded down $0.32 during trading on Thursday, hitting $32.17. The stock had a trading volume of 4,330,000 shares, compared to its average volume of 6,410,000. The stock has a market cap of $22,700.00, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.21 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 has a 12-month low of $23.20 and a 12-month high of $32.69.
Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.48. The firm had revenue of $1.54 billion during 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 earned $0.65 EPS. equities analysts expect that Fifth Third Bancorp will post 1.78 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, December 28th. Fifth Third Bancorp’s payout ratio is currently 24.15%.
FITB has been the topic of a number of recent research reports. Royal Bank of Canada reissued a “buy” rating on shares of Fifth Third Bancorp in a research note on Sunday, December 10th. Macquarie cut Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $28.47 to $26.00 in a research report on Friday, November 17th. BMO Capital Markets reaffirmed a “hold” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Friday, December 8th. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday, October 11th. Finally, Morgan Stanley raised their target price on Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 13th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.33.
In related news, EVP Timothy Spence sold 15,000 shares of the business’s 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 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 available through this hyperlink. 0.38% of the stock is owned by insiders.
ILLEGAL ACTIVITY NOTICE: This piece was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://www.dispatchtribunal.com/2018/01/18/acropolis-investment-management-llc-has-1-15-million-stake-in-fifth-third-bancorp-fitb.html.
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.
Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.