Sanders Capital LLC Increases Stake in Fifth Third Bancorp (FITB)
Sanders Capital LLC increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,447,822 shares of the financial services provider’s stock after buying an additional 26,022 shares during the period. Sanders Capital LLC owned approximately 0.84% of Fifth Third Bancorp worth $113,417,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of FITB. Advisory Services Network LLC boosted its stake in Fifth Third Bancorp by 153.2% in the second quarter. Advisory Services Network LLC now owns 6,375 shares of the financial services provider’s stock worth $112,000 after buying an additional 3,857 shares during the period. Duncker Streett & Co. Inc. boosted its stake in Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,419 shares of the financial services provider’s stock worth $113,000 after buying an additional 20 shares during the period. Acrospire Investment Management LLC purchased a new stake in Fifth Third Bancorp during the first quarter worth about $112,000. Atria Investments LLC purchased a new stake in Fifth Third Bancorp during the second quarter worth about $179,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Fifth Third Bancorp during the first quarter worth about $178,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded down 0.24% during trading on Friday, hitting $20.69. 6,014,677 shares of the stock were exchanged. Fifth Third Bancorp has a 52 week low of $13.84 and a 52 week high of $21.14. The firm’s 50 day moving average price is $20.21 and its 200-day moving average price is $18.59. The stock has a market cap of $15.86 billion, a P/E ratio of 10.08 and a beta of 1.33.
Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Thursday, July 28th. The financial services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a net margin of 23.36% and a return on equity of 9.25%. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, analysts predict that Fifth Third Bancorp will post $1.60 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Wednesday, September 28th. Fifth Third Bancorp’s payout ratio is presently 25.49%.
A number of research firms have issued reports on FITB. Nomura restated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 9th. Wells Fargo & Co. restated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 9th. Jefferies Group cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating and set a $22.00 price target for the company. in a report on Friday. They noted that the move was a valuation call. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday. Finally, FBR & Co restated a “hold” rating and set a $20.00 price target on shares of Fifth Third Bancorp in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.72.
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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