Laurion Capital Management LP grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 88.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 332,649 shares of the financial services provider’s stock after purchasing an additional 155,687 shares during the period. Laurion Capital Management LP’s holdings in Fifth Third Bancorp were worth $9,547,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Well Done LLC purchased a new stake in Fifth Third Bancorp during the first quarter worth about $114,000. MUFG Americas Holdings Corp purchased a new stake in shares of Fifth Third Bancorp during the second quarter worth approximately $103,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Fifth Third Bancorp by 8,368.1% during the second 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 during the period. First Mercantile Trust Co. purchased a new stake in shares of Fifth Third Bancorp during the second quarter worth approximately $149,000. Finally, Point72 Asia Hong Kong Ltd purchased a new stake in shares of Fifth Third Bancorp during the first quarter worth approximately $181,000. Institutional investors own 83.91% of the company’s stock.
A number of research firms recently weighed in on FITB. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and set a $37.00 target price on the stock in a research note on Monday, May 28th. Robert W. Baird upgraded shares of Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $32.00 target price on the stock in a research note on Tuesday, May 22nd. Argus began coverage on shares of Fifth Third Bancorp in a research note on Thursday, June 14th. They set a “buy” rating and a $36.00 target price on the stock. BidaskClub lowered shares of Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 1st. Finally, FIG Partners lowered shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a research note on Monday, May 21st. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.18.
Shares of Fifth Third Bancorp stock opened at $29.68 on Thursday. The company has a market capitalization of $19.66 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.63 and a beta of 1.25. Fifth Third Bancorp has a 52 week low of $24.66 and a 52 week high of $34.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.61 billion. Fifth Third Bancorp had a net margin of 32.86% and a return on equity of 11.12%. During the same period in the prior year, the firm posted $0.45 earnings per share. analysts anticipate that Fifth Third Bancorp will post 2.51 EPS for the current fiscal year.
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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