Baird Financial Group Inc. grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,650 shares of the financial services provider’s stock after acquiring an additional 2,661 shares during the quarter. Baird Financial Group Inc.’s holdings in Fifth Third Bancorp were worth $3,855,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in FITB. Janney Montgomery Scott LLC increased its stake in Fifth Third Bancorp by 4.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 41,948 shares of the financial services provider’s stock worth $1,204,000 after buying an additional 1,746 shares in the last quarter. TD Asset Management Inc. increased its stake in Fifth Third Bancorp by 11.6% during the 2nd quarter. TD Asset Management Inc. now owns 462,960 shares of the financial services provider’s stock worth $13,287,000 after buying an additional 48,047 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in Fifth Third Bancorp by 8,368.1% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,980 shares of the financial services provider’s stock worth $114,000 after buying an additional 3,933 shares in the last quarter. Fiera Capital Corp increased its stake in Fifth Third Bancorp by 64.5% during the 2nd quarter. Fiera Capital Corp now owns 24,893 shares of the financial services provider’s stock worth $715,000 after buying an additional 9,757 shares in the last quarter. Finally, KBC Group NV increased its stake in Fifth Third Bancorp by 338.5% during the 2nd quarter. KBC Group NV now owns 497,599 shares of the financial services provider’s stock worth $14,281,000 after buying an additional 384,115 shares in the last quarter. 82.15% of the stock is owned by institutional investors.
FITB stock opened at $25.59 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $17.10 billion, a PE ratio of 9.55, a P/E/G ratio of 1.46 and a beta of 1.17. Fifth Third Bancorp has a 1 year low of $24.10 and a 1 year high of $34.67.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. Fifth Third Bancorp had a return on equity of 11.74% and a net margin of 28.89%. During the same period in the prior year, the business earned $1.35 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post 2.49 EPS for the current fiscal year.
Several equities research analysts have commented on the company. BidaskClub lowered Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 1st. Nomura upgraded Fifth Third Bancorp from a “reduce” rating to a “neutral” rating and cut their price objective for the stock from $32.00 to $29.00 in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Morgan Stanley cut their price objective on Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 18th. Piper Jaffray Companies set a $31.00 price objective on Fifth Third Bancorp and gave the stock a “hold” rating in a research note on Monday, October 29th. Finally, Raymond James upgraded Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Wednesday, October 31st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $32.73.
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Fifth Third Bancorp Company 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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