Fifth Third Bancorp (FITB) Holdings Trimmed by Prudential Financial Inc.
Prudential Financial Inc. decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,170,307 shares of the financial services provider’s stock after selling 63,780 shares during the quarter. Prudential Financial Inc. owned 0.29% of Fifth Third Bancorp worth $60,726,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $642,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of Fifth Third Bancorp by 1.6% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 123,778 shares of the financial services provider’s stock valued at $3,463,000 after purchasing an additional 1,900 shares during the period. Stevens Capital Management LP acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $1,589,000. Chicago Equity Partners LLC acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $231,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Fifth Third Bancorp by 3.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 130,056 shares of the financial services provider’s stock valued at $3,639,000 after purchasing an additional 4,683 shares during the period. 82.72% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Frank R. Forrest sold 7,004 shares of Fifth Third Bancorp stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $26.21, for a total value of $183,574.84. Following the sale, the executive vice president now owns 71,793 shares of the company’s stock, valued at $1,881,694.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy Spence sold 15,000 shares of Fifth Third Bancorp stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the completion of the sale, the executive vice president now directly owns 154,577 shares in the company, valued at approximately $4,461,092.22. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.
Fifth Third Bancorp (FITB) opened at $28.01 on Friday. Fifth Third Bancorp has a 1-year low of $23.09 and a 1-year high of $29.39. The stock has a market cap of $19,967.95, a price-to-earnings ratio of 15.72, a PEG ratio of 2.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89.
Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $0.65 EPS. research analysts predict that Fifth Third Bancorp will post 1.8 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a $0.16 dividend. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.64 annualized dividend and a dividend yield of 2.28%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 23.97%.
A number of analysts recently issued reports on the company. BidaskClub downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Nomura lifted their target price on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $27.50 target price on shares of Fifth Third Bancorp in a research report on Friday, July 14th. Robert W. Baird downgraded Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 target price on the stock. in a research report on Monday, October 2nd. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $27.00 price target on shares of Fifth Third Bancorp in a research report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $28.33.
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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