US Bancorp DE decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 4.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 759,899 shares of the financial services provider’s stock after selling 33,532 shares during the period. US Bancorp DE’s holdings in Fifth Third Bancorp were worth $21,216,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in FITB. BlackRock Inc. boosted its stake in Fifth Third Bancorp by 5.9% in the 2nd quarter. BlackRock Inc. now owns 48,455,130 shares of the financial services provider’s stock worth $1,390,661,000 after purchasing an additional 2,718,504 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Fifth Third Bancorp by 119.9% in the 2nd quarter. Janus Henderson Group PLC now owns 4,875,534 shares of the financial services provider’s stock worth $139,929,000 after purchasing an additional 2,658,672 shares in the last quarter. Schroder Investment Management Group boosted its stake in Fifth Third Bancorp by 106.3% in the 2nd quarter. Schroder Investment Management Group now owns 4,166,562 shares of the financial services provider’s stock worth $119,747,000 after purchasing an additional 2,146,656 shares in the last quarter. Millennium Management LLC boosted its stake in Fifth Third Bancorp by 658.6% in the 2nd quarter. Millennium Management LLC now owns 1,622,956 shares of the financial services provider’s stock worth $46,579,000 after purchasing an additional 1,409,021 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Fifth Third Bancorp by 16.9% in the 2nd quarter. Wells Fargo & Company MN now owns 7,362,392 shares of the financial services provider’s stock worth $211,301,000 after purchasing an additional 1,062,218 shares in the last quarter. Institutional investors own 83.77% of the company’s stock.
FITB opened at $27.57 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00. The stock has a market cap of $18.28 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 1.53 and a beta of 1.18. Fifth Third Bancorp has a 52-week low of $24.10 and a 52-week high of $34.67.
Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, October 23rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Fifth Third Bancorp had a net margin of 28.89% and a return on equity of 11.74%. During the same quarter in the prior year, the business earned $1.35 EPS. As a group, analysts expect that Fifth Third Bancorp will post 2.49 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, September 27th. Fifth Third Bancorp’s dividend payout ratio is currently 26.87%.
A number of equities analysts recently issued reports on FITB shares. Wedbush set a $34.00 price target on shares of Fifth Third Bancorp and gave the stock a “buy” rating in a research note on Thursday, September 20th. ValuEngine cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Morgan Stanley dropped their price target on shares of Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 18th. BidaskClub upgraded shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Friday, October 5th. Finally, UBS Group upgraded shares of Fifth Third Bancorp from a “sell” rating to a “neutral” rating and set a $26.00 price target on the stock in a research note on Friday, July 20th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $32.31.
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Fifth Third Bancorp Profile
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
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