Fifth Third Bancorp (FITB) Shares Sold by Hartford Investment Management Co.
Hartford Investment Management Co. trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,876 shares of the financial services provider’s stock after selling 5,089 shares during the quarter. Hartford Investment Management Co.’s holdings in Fifth Third Bancorp were worth $4,613,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in FITB. Strs Ohio raised its stake in shares of Fifth Third Bancorp by 10.8% during the 2nd quarter. Strs Ohio now owns 95,406 shares of the financial services provider’s stock worth $2,476,000 after buying an additional 9,312 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Fifth Third Bancorp by 5.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 30,114 shares of the financial services provider’s stock worth $782,000 after buying an additional 1,646 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Fifth Third Bancorp by 33.9% during the 2nd quarter. Great West Life Assurance Co. Can now owns 825,256 shares of the financial services provider’s stock worth $21,408,000 after buying an additional 208,963 shares during the period. CIBC Asset Management Inc raised its stake in shares of Fifth Third Bancorp by 1.3% during the 2nd quarter. CIBC Asset Management Inc now owns 83,462 shares of the financial services provider’s stock worth $2,167,000 after buying an additional 1,062 shares during the period. Finally, Opus Investment Management Inc. acquired a new position in shares of Fifth Third Bancorp during the 2nd quarter worth approximately $337,000. 84.00% of the stock is owned by institutional investors and hedge funds.
Fifth Third Bancorp (FITB) opened at $30.69 on Friday. Fifth Third Bancorp has a 52 week low of $23.20 and a 52 week high of $31.11. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $21,654.28, a price-to-earnings ratio of 17.05, a P/E/G ratio of 2.55 and a beta of 1.35.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. During the same period in the prior year, the company earned $0.65 EPS. equities analysts predict that Fifth Third Bancorp will post 1.79 earnings per share for the current year.
Several research analysts have recently weighed in on FITB shares. BidaskClub raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Wells Fargo & Company started coverage on Fifth Third Bancorp in a research note on Wednesday, August 9th. They set a “market perform” rating and a $27.00 target price for the company. Jefferies Group reaffirmed a “hold” rating and set a $28.00 target price on shares of Fifth Third Bancorp in a research note on Friday, August 11th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $31.00 target price (up from $29.00) on shares of Fifth Third Bancorp in a research note on Saturday, September 16th. Finally, Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Monday, September 25th. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $28.23.
In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the sale, the executive vice president now directly owns 154,577 shares in the company, valued at approximately $4,461,092.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.38% of the stock is owned by corporate insiders.
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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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