Fifth Third Bancorp (FITB) Position Increased by Sadoff Investment Management LLC
Sadoff Investment Management LLC raised its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,132,998 shares of the financial services provider’s stock after buying an additional 25,950 shares during the period. Fifth Third Bancorp makes up approximately 2.6% of Sadoff Investment Management LLC’s holdings, making the stock its 18th largest position. Sadoff Investment Management LLC owned approximately 0.15% of Fifth Third Bancorp worth $23,181,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Global X Management Co. LLC increased its stake in Fifth Third Bancorp by 117.7% in the second quarter. Global X Management Co. LLC now owns 6,234 shares of the financial services provider’s stock valued at $110,000 after buying an additional 3,371 shares during the last quarter. Advisory Services Network LLC increased 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 valued at $112,000 after buying an additional 3,857 shares during the last quarter. Duncker Streett & Co. Inc. increased 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 valued at $113,000 after buying an additional 20 shares during the last quarter. Atria Investments LLC purchased a new stake in Fifth Third Bancorp during the second quarter valued at $179,000. Finally, First Allied Advisory Services Inc. purchased a new stake in Fifth Third Bancorp during the second quarter valued at $194,000. 82.26% of the stock is currently owned by institutional investors.
Fifth Third Bancorp (NASDAQ:FITB) traded up 0.98% on Friday, reaching $25.68. The company had a trading volume of 5,613,626 shares. Fifth Third Bancorp has a 52-week low of $13.84 and a 52-week high of $25.75. The stock’s 50-day moving average price is $21.62 and its 200 day moving average price is $19.52. The firm has a market capitalization of $19.40 billion, a price-to-earnings ratio of 11.39 and a beta of 1.20.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Thursday, October 20th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.24. Fifth Third Bancorp had a return on equity of 10.00% and a net margin of 24.69%. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, equities analysts anticipate that Fifth Third Bancorp will post $1.88 earnings per share for the current fiscal year.
FITB has been the topic of a number of recent research reports. Compass Point downgraded Fifth Third Bancorp from a “buy” rating to a “neutral” rating in a research note on Friday. Jefferies Group restated a “buy” rating on shares of Fifth Third Bancorp in a research note on Wednesday, August 3rd. FBR & Co restated a “hold” rating and issued a $20.00 target price on shares of Fifth Third Bancorp in a research note on Friday, July 29th. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Fifth Third Bancorp in a research note on Thursday, October 20th. Finally, Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, October 4th. Three equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $20.66.
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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