6,894 Shares in Fifth Third Bancorp (FITB) Purchased by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,894 shares of the financial services provider’s stock, valued at approximately $202,000.

A number of other large investors have also modified their holdings of the business. Teacher Retirement System of Texas boosted its position in Fifth Third Bancorp by 304.7% during the third quarter. Teacher Retirement System of Texas now owns 31,615 shares of the financial services provider’s stock worth $885,000 after purchasing an additional 23,803 shares during the period. Rhumbline Advisers boosted its position in Fifth Third Bancorp by 1.4% during the third quarter. Rhumbline Advisers now owns 1,416,096 shares of the financial services provider’s stock worth $39,622,000 after purchasing an additional 19,465 shares during the period. Advisor Group Inc. boosted its position in shares of Fifth Third Bancorp by 19.7% in the third quarter. Advisor Group Inc. now owns 36,589 shares of the financial services provider’s stock valued at $1,024,000 after acquiring an additional 6,033 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Fifth Third Bancorp by 2.0% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 425,655 shares of the financial services provider’s stock valued at $11,910,000 after acquiring an additional 8,164 shares during the period. Finally, Context BH Capital Management LP boosted its position in shares of Fifth Third Bancorp by 45.2% in the third quarter. Context BH Capital Management LP now owns 17,245 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 5,365 shares during the period. Hedge funds and other institutional investors own 81.45% of the company’s stock.

In other news, EVP Frank R. Forrest sold 7,004 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $26.21, for a total value of $183,574.84. Following the transaction, the executive vice president now owns 71,793 shares in the company, valued at $1,881,694.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Spence sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $28.86, for a total transaction of $432,900.00. Following the completion of the transaction, the executive vice president now owns 154,577 shares in the company, valued at approximately $4,461,092.22. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

FITB has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. UBS AG restated a “sell” rating and issued a $26.00 price objective (up from $25.00) on shares of Fifth Third Bancorp in a research report on Friday, October 6th. Sanford C. Bernstein restated a “market perform” rating and issued a $31.00 price objective (up from $29.00) on shares of Fifth Third Bancorp in a research report on Saturday, September 16th. Instinet restated a “neutral” rating and issued a $29.00 price objective (up from $28.00) on shares of Fifth Third Bancorp in a research report on Saturday, September 30th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fifth Third Bancorp in a research report on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $28.33.

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Fifth Third Bancorp (NASDAQ FITB) traded up $0.42 during mid-day trading on Wednesday, hitting $28.61. 5,786,900 shares of the company’s stock traded hands, compared to its average volume of 5,775,735. The stock has a market capitalization of $19,890.33, a P/E ratio of 15.66, a PEG ratio of 2.33 and a beta of 1.34. Fifth Third Bancorp has a 52-week low of $23.20 and a 52-week high of $29.39. 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 (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same period last year, the firm posted $0.65 earnings per share. equities analysts forecast that Fifth Third Bancorp will post 1.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, September 28th. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 2.24%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 23.97%.

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

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