Bridgeway Capital Management Inc. Maintains Stake in Fifth Third Bancorp (FITB)
Bridgeway Capital Management Inc. maintained its position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,528,400 shares of the financial services provider’s stock at the end of the second quarter. Bridgeway Capital Management Inc. owned 0.20% of Fifth Third Bancorp worth $26,885,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Fifth Third Bancorp by 69.2% in the first quarter. Wellington Management Group LLP now owns 2,737,728 shares of the financial services provider’s stock worth $45,693,000 after buying an additional 1,120,110 shares during the last quarter. National Pension Service increased its position in shares of Fifth Third Bancorp by 4.5% in the first quarter. National Pension Service now owns 501,999 shares of the financial services provider’s stock valued at $8,378,000 after buying an additional 21,808 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Fifth Third Bancorp during the first quarter valued at about $9,737,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Fifth Third Bancorp during the first quarter valued at about $1,130,000. Finally, A.R.T. Advisors LLC acquired a new position in shares of Fifth Third Bancorp during the first quarter valued at about $1,044,000. Institutional investors own 80.76% of the company’s stock.
Fifth Third Bancorp (NASDAQ:FITB) traded up 3.07% during midday trading on Friday, reaching $24.47. 10,993,569 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $21.10 and a 200 day moving average price of $19.33. The company has a market cap of $18.49 billion, a price-to-earnings ratio of 10.85 and a beta of 1.20. Fifth Third Bancorp has a 52 week low of $13.84 and a 52 week high of $24.51.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Thursday, October 20th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.24. Fifth Third Bancorp had a net margin of 24.69% and a return on equity of 10.00%. During the same quarter last year, the business earned $0.45 EPS. Analysts anticipate that Fifth Third Bancorp will post $1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 17th. Investors of record on Friday, September 30th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.13%. Fifth Third Bancorp’s payout ratio is 23.21%.
Several equities analysts have recently issued reports on FITB shares. Evercore ISI downgraded Fifth Third Bancorp to a “hold” rating and set a $18.00 price objective for the company. in a research report on Friday, July 15th. Stephens downgraded Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 5th. Wedbush started coverage on Fifth Third Bancorp in a research report on Thursday, October 6th. They set a “neutral” rating and a $22.00 price objective for the company. Compass Point upgraded Fifth Third Bancorp from a “neutral” rating to a “buy” rating in a research report on Thursday, September 22nd. Finally, Zacks Investment Research downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, October 7th. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.44.
Fifth Third Bancorp Company 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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