Kemnay Advisory Services Inc. lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.6% in the third quarter, Holdings Channel reports. The institutional investor owned 46,242 shares of the financial services provider’s stock after purchasing an additional 2,027 shares during the period. Kemnay Advisory Services Inc.’s holdings in Fifth Third Bancorp were worth $1,291,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rational Advisors LLC increased its holdings in shares of Fifth Third Bancorp by 244.7% during the 3rd quarter. Rational Advisors LLC now owns 3,588 shares of the financial services provider’s stock worth $100,000 after buying an additional 2,547 shares during the last quarter. MUFG Americas Holdings Corp acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth $103,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of 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 during the last quarter. Centaurus Financial Inc. acquired a new stake in shares of Fifth Third Bancorp during the 2nd quarter worth $131,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth $210,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Shares of Fifth Third Bancorp stock opened at $25.96 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.89 and a quick ratio of 0.88. Fifth Third Bancorp has a twelve month low of $24.10 and a twelve month high of $34.67. The firm has a market cap of $17.10 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Fifth Third Bancorp had a net margin of 28.89% and a return on equity of 11.74%. During the same period in the prior year, the company posted $1.35 EPS. As a group, sell-side analysts expect that Fifth Third Bancorp will post 2.49 earnings per share for the current year.

A number of analysts have recently commented on FITB shares. BidaskClub downgraded Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. Wedbush upgraded Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $31.00 to $34.00 in a report on Tuesday, September 4th. They noted that the move was a valuation call. Morgan Stanley dropped their price objective on Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating for the company in a report on Tuesday, September 18th. Nomura raised shares of Fifth Third Bancorp from a “reduce” rating to a “neutral” rating and decreased their price target for the stock from $32.00 to $29.00 in a research report on Wednesday, October 24th. They noted that the move was a valuation call. Finally, BMO Capital Markets decreased their price target on shares of Fifth Third Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, October 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Fifth Third Bancorp has a consensus rating of “Hold” and an average target price 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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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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