FSI Group LLC Invests $349,000 in Fifth Third Bancorp (FITB)

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FSI Group LLC purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 12,516 shares of the financial services provider’s stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Main Street Research LLC increased its position in shares of Fifth Third Bancorp by 2.0% during the third quarter. Main Street Research LLC now owns 490,165 shares of the financial services provider’s stock valued at $13,685,000 after buying an additional 9,510 shares during the period. AlphaMark Advisors LLC increased its position in shares of Fifth Third Bancorp by 1.4% during the third quarter. AlphaMark Advisors LLC now owns 139,669 shares of the financial services provider’s stock valued at $3,900,000 after buying an additional 1,891 shares during the period. Icon Advisers Inc. Co. increased its position in shares of Fifth Third Bancorp by 1.7% during the third quarter. Icon Advisers Inc. Co. now owns 115,602 shares of the financial services provider’s stock valued at $3,228,000 after buying an additional 1,920 shares during the period. WINTON GROUP Ltd increased its position in shares of Fifth Third Bancorp by 179.4% during the third quarter. WINTON GROUP Ltd now owns 211,812 shares of the financial services provider’s stock valued at $5,914,000 after buying an additional 136,003 shares during the period. Finally, Cadence Capital Management LLC increased its position in shares of Fifth Third Bancorp by 28.1% during the third quarter. Cadence Capital Management LLC now owns 74,920 shares of the financial services provider’s stock valued at $2,092,000 after buying an additional 16,434 shares during the period. Institutional investors own 83.77% of the company’s stock.

NASDAQ:FITB opened at $27.74 on Friday. Fifth Third Bancorp has a one year low of $24.10 and a one year high of $34.67. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $18.69 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 1.57 and a beta of 1.18.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. Fifth Third Bancorp had a net margin of 28.89% and a return on equity of 11.74%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the firm posted $1.35 earnings per share. Research analysts anticipate that Fifth Third Bancorp will post 2.49 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors 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 2.60%. The ex-dividend date was Thursday, September 27th. Fifth Third Bancorp’s payout ratio is currently 26.87%.

Several equities analysts recently issued reports on FITB shares. Wedbush set a $34.00 price target on shares of Fifth Third Bancorp and gave the company a “buy” rating in a research report on Thursday, September 20th. ValuEngine cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Morgan Stanley reduced 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 report on Tuesday, September 18th. BidaskClub upgraded shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research report 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 report on Friday, July 20th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $32.31.

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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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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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