Neuburgh Advisers LLC lowered its position in Fifth Third Bancorp (NASDAQ:FITB) by 45.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 259,250 shares of the financial services provider’s stock after selling 218,552 shares during the period. Neuburgh Advisers LLC’s holdings in Fifth Third Bancorp were worth $6,538,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SRS Capital Advisors Inc. increased its position in shares of Fifth Third Bancorp by 82.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock valued at $25,000 after buying an additional 487 shares in the last quarter. Whitnell & Co. purchased a new position in shares of Fifth Third Bancorp in the first quarter valued at $28,000. Guidant Wealth Advisors purchased a new position in shares of Fifth Third Bancorp in the first quarter valued at $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Fifth Third Bancorp in the first quarter valued at $38,000. Finally, JOYN Advisors Inc. increased its position in shares of Fifth Third Bancorp by 38.6% in the fourth quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock valued at $41,000 after buying an additional 480 shares in the last quarter. Institutional investors and hedge funds own 81.88% of the company’s stock.

NASDAQ:FITB traded down $0.25 during mid-day trading on Wednesday, reaching $27.16. The company’s stock had a trading volume of 287,406 shares, compared to its average volume of 7,334,370. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Fifth Third Bancorp has a twelve month low of $22.12 and a twelve month high of $31.69. The firm has a market cap of $19.92 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 1.34 and a beta of 1.35.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Fifth Third Bancorp had a return on equity of 11.77% and a net margin of 26.80%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $0.57 EPS. As a group, research analysts forecast that Fifth Third Bancorp will post 2.79 earnings per share for the current fiscal year.

In other Fifth Third Bancorp news, 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 value of $83,892.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jewell D. Hoover sold 3,739 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $26.51, for a total value of $99,120.89. Following the completion of the sale, the director now directly owns 50,397 shares in the company, valued at $1,336,024.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,466 shares of company stock worth $1,716,402. 0.40% of the stock is owned by corporate insiders.

A number of analysts recently commented on the company. UBS Group increased their price objective on Fifth Third Bancorp from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Barclays increased their price objective on Fifth Third Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. Keefe, Bruyette & Woods raised Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Thursday, April 4th. Zacks Investment Research lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Finally, ValuEngine raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $31.60.

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About Fifth Third Bancorp

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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Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITB).

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

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