Fifth Third Bancorp (FITB) Position Trimmed by Ameriprise Financial Inc.
Ameriprise Financial Inc. lowered its position in Fifth Third Bancorp (NASDAQ:FITB) by 42.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,611,626 shares of the financial services provider’s stock after selling 4,056,757 shares during the period. Ameriprise Financial Inc. owned about 0.80% of Fifth Third Bancorp worth $157,043,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Commerce Bank boosted its holdings in Fifth Third Bancorp by 1.0% in the 2nd quarter. Commerce Bank now owns 16,552 shares of the financial services provider’s stock worth $430,000 after buying an additional 166 shares during the period. Wesbanco Bank Inc. boosted its holdings in Fifth Third Bancorp by 0.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 32,103 shares of the financial services provider’s stock worth $833,000 after buying an additional 200 shares during the period. Walter & Keenan Financial Consulting Co. MI ADV boosted its holdings in Fifth Third Bancorp by 0.4% in the 2nd quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 99,194 shares of the financial services provider’s stock worth $2,575,000 after buying an additional 401 shares during the period. Greenleaf Trust boosted its holdings in Fifth Third Bancorp by 4.0% in the 2nd quarter. Greenleaf Trust now owns 11,192 shares of the financial services provider’s stock worth $291,000 after buying an additional 429 shares during the period. Finally, Sawtooth Solutions LLC boosted its holdings in Fifth Third Bancorp by 4.6% in the 2nd quarter. Sawtooth Solutions LLC now owns 10,531 shares of the financial services provider’s stock worth $273,000 after buying an additional 465 shares during the period. 80.11% of the stock is owned by institutional investors.
Fifth Third Bancorp (FITB) opened at $28.20 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. Fifth Third Bancorp has a 1-year low of $23.20 and a 1-year high of $29.39. The company has a market cap of $20,052.62, a PE ratio of 15.79, a P/E/G ratio of 2.36 and a beta of 1.34.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the firm earned $0.65 EPS. research analysts expect that Fifth Third Bancorp will post 1.79 earnings per share for the current year.
In related news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the transaction, the executive vice president now owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.
Several research analysts recently weighed in on FITB shares. Royal Bank Of Canada upped their target price on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Wednesday, October 11th. Sanford C. Bernstein reissued a “market perform” rating and set a $31.00 price objective (up previously from $29.00) on shares of Fifth Third Bancorp in a report on Saturday, September 16th. Citigroup Inc. reissued a “neutral” rating and set a $31.00 price objective (up previously from $28.00) on shares of Fifth Third Bancorp in a report on Monday, October 9th. Finally, Bank of America Corporation increased their price objective on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Four equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $28.23.
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Fifth Third Bancorp Profile
Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.
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