Sumitomo Mitsui Trust Holdings Inc. Has $76.89 Million Position in Fifth Third Bancorp (FITB)

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Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 10.5% in the first quarter, Holdings Channel reports. The fund owned 3,048,681 shares of the financial services provider’s stock after purchasing an additional 289,151 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Fifth Third Bancorp were worth $76,888,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. lifted its position in Fifth Third Bancorp by 82.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 487 shares during the last quarter. Whitnell & Co. purchased a new stake in Fifth Third Bancorp during the first quarter valued at approximately $28,000. Guidant Wealth Advisors purchased a new stake in Fifth Third Bancorp during the first quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new stake in Fifth Third Bancorp during the first quarter valued at approximately $38,000. Finally, First Command Bank increased its stake in Fifth Third Bancorp by 2,825.0% during the 1st quarter. First Command Bank now owns 1,638 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,582 shares in the last quarter. 78.05% of the stock is owned by institutional investors.

Shares of NASDAQ:FITB traded up $0.17 during midday trading on Friday, hitting $27.19. The company’s stock had a trading volume of 77,903 shares, compared to its average volume of 7,406,733. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The company has a market cap of $20.09 billion, a P/E ratio of 10.68, a P/E/G ratio of 1.38 and a beta of 1.36. Fifth Third Bancorp has a 12-month low of $22.12 and a 12-month high of $32.01.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.04. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $1.67 billion. Fifth Third Bancorp had a net margin of 26.80% and a return on equity of 11.77%. During the same period last year, the firm posted $0.57 earnings per share. On average, analysts expect that Fifth Third Bancorp will post 2.77 earnings per share for the current year.

Several research firms recently commented on FITB. ValuEngine upgraded shares of Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, March 12th. BidaskClub downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, February 28th. Jefferies Financial Group raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Finally, Wedbush reaffirmed an “outperform” rating on shares of Fifth Third Bancorp in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $31.64.

In other news, EVP Frank R. Forrest sold 26,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $26.37, for a total value of $685,620.00. Following the transaction, the executive vice president now directly owns 62,974 shares of the company’s stock, valued at $1,660,624.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Teresa J. Tanner sold 2,918 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $28.75, for a total transaction of $83,892.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,727 shares of company stock worth $2,302,901. Insiders own 0.40% of the company’s stock.

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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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