Shelton Capital Management Trims Position in Fifth Third Bancorp (FITB)
Shelton Capital Management lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 122,000 shares of the financial services provider’s stock after selling 9,069 shares during the period. Shelton Capital Management’s holdings in Fifth Third Bancorp were worth $3,414,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its stake in shares of Fifth Third Bancorp by 7,461.4% in the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock valued at $197,608,000 after acquiring an additional 7,511,357 shares during the last quarter. Balyasny Asset Management LLC raised its stake in shares of Fifth Third Bancorp by 265.3% in the second quarter. Balyasny Asset Management LLC now owns 3,821,186 shares of the financial services provider’s stock valued at $99,198,000 after acquiring an additional 2,775,259 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Fifth Third Bancorp by 97.5% in the second quarter. Parametric Portfolio Associates LLC now owns 3,382,624 shares of the financial services provider’s stock valued at $87,813,000 after acquiring an additional 1,670,055 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Fifth Third Bancorp by 1.1% in the second quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock valued at $1,502,604,000 after acquiring an additional 639,361 shares during the last quarter. Finally, ALGEBRIS UK Ltd bought a new position in shares of Fifth Third Bancorp in the second quarter valued at approximately $15,812,000. Institutional investors and hedge funds own 83.97% of the company’s stock.
In other news, EVP Timothy Spence sold 15,000 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by insiders.
Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at $29.67 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93. Fifth Third Bancorp has a fifty-two week low of $23.20 and a fifty-two week high of $31.83. The company has a market cap of $21,125.10, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 2.50 and a beta of 1.35.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the business earned $0.65 EPS. equities analysts forecast that Fifth Third Bancorp will post 1.79 earnings per share for the current fiscal year.
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About Fifth Third Bancorp
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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