O Shaughnessy Asset Management LLC Has $3.25 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

O Shaughnessy Asset Management LLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITBGet Rating) by 86.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,706 shares of the financial services provider’s stock after selling 483,605 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Fifth Third Bancorp were worth $3,253,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FITB. Consolidated Planning Corp acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at $28,000. Evoke Wealth LLC boosted its holdings in shares of Fifth Third Bancorp by 146.7% during the 4th quarter. Evoke Wealth LLC now owns 814 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 484 shares in the last quarter. Joseph Group Capital Management acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $1,545,000. Covestor Ltd acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter valued at $37,000. Finally, Kings Point Capital Management acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at $38,000. 81.00% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Fifth Third Bancorp from $48.00 to $48.50 in a research report on Thursday, February 3rd. Morgan Stanley lowered Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $56.00 to $50.00 in a research report on Monday, March 28th. StockNews.com assumed coverage on Fifth Third Bancorp in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Monday, April 25th. Finally, Wolfe Research lowered Fifth Third Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $59.00 to $47.00 in a research report on Thursday, April 7th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Buy” and an average target price of $48.61.

Shares of FITB opened at $35.64 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a 50-day moving average of $40.62 and a 200-day moving average of $43.74. The company has a market cap of $24.37 billion, a PE ratio of 10.21, a P/E/G ratio of 1.19 and a beta of 1.30. Fifth Third Bancorp has a one year low of $34.35 and a one year high of $50.64.

Fifth Third Bancorp (NASDAQ:FITBGet Rating) last issued its earnings results on Tuesday, April 19th. The financial services provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.94 billion. Fifth Third Bancorp had a net margin of 31.14% and a return on equity of 12.99%. During the same quarter in the prior year, the business earned $0.93 earnings per share. Analysts expect that Fifth Third Bancorp will post 3.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Thursday, March 31st were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $1.20 annualized dividend and a dividend yield of 3.37%. Fifth Third Bancorp’s dividend payout ratio is presently 34.38%.

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $36.93, for a total transaction of $92,325.00. Following the completion of the transaction, the executive vice president now owns 45,844 shares in the company, valued at approximately $1,693,018.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Greg D. Carmichael sold 50,000 shares of Fifth Third Bancorp stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $40.05, for a total value of $2,002,500.00. Following the transaction, the chief executive officer now owns 644,745 shares of the company’s stock, valued at approximately $25,822,037.25. The disclosure for this sale can be found here. Company insiders own 0.67% of the company’s stock.

Fifth Third Bancorp Company Profile (Get Rating)

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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