Fifth Third Bancorp (FITB) Holdings Trimmed by HL Financial Services LLC

HL Financial Services LLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,394 shares of the financial services provider’s stock after selling 3,463 shares during the quarter. HL Financial Services LLC’s holdings in Fifth Third Bancorp were worth $1,602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. AlphaMark Advisors LLC increased its position in shares of Fifth Third Bancorp by 1.2% in the second quarter. AlphaMark Advisors LLC now owns 137,778 shares of the financial services provider’s stock valued at $3,954,000 after buying an additional 1,697 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Fifth Third Bancorp by 4.3% in the second quarter. Janney Montgomery Scott LLC now owns 41,948 shares of the financial services provider’s stock valued at $1,204,000 after buying an additional 1,746 shares in the last quarter. Amalgamated Bank increased its position in shares of Fifth Third Bancorp by 2.2% in the second quarter. Amalgamated Bank now owns 88,440 shares of the financial services provider’s stock valued at $2,538,000 after buying an additional 1,939 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Fifth Third Bancorp by 1.8% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 109,642 shares of the financial services provider’s stock valued at $3,147,000 after buying an additional 1,980 shares in the last quarter. Finally, Doyle Wealth Management increased its position in shares of Fifth Third Bancorp by 29.2% in the second quarter. Doyle Wealth Management now owns 9,763 shares of the financial services provider’s stock valued at $280,000 after buying an additional 2,206 shares in the last quarter. 83.77% of the stock is owned by institutional investors and hedge funds.

Shares of FITB opened at $27.96 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 one year low of $24.10 and a one year high of $34.67. The company has a market cap of $18.55 billion, a P/E ratio of 11.76, a PEG ratio of 1.56 and a beta of 1.18.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, October 23rd. The financial services provider reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Fifth Third Bancorp had a return on equity of 11.74% and a net margin of 28.89%. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the previous year, the business earned $1.35 earnings per share. As a group, equities analysts predict that Fifth Third Bancorp will post 2.49 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, September 27th. Fifth Third Bancorp’s payout ratio is 26.87%.

A number of analysts have recently commented on the company. Wedbush set a $34.00 price objective on Fifth Third Bancorp and gave the company a “buy” rating in a research report on Thursday, September 20th. ValuEngine cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. BidaskClub cut Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 1st. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Monday, July 16th. Finally, Morgan Stanley cut their price objective on Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 18th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.31.

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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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