Sadoff Investment Management LLC lowered its stake in Fifth Third Bancorp (NASDAQ:FITB) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,131,288 shares of the financial services provider’s stock after selling 3,160 shares during the quarter. Fifth Third Bancorp accounts for approximately 2.8% of Sadoff Investment Management LLC’s portfolio, making the stock its 19th largest position. Sadoff Investment Management LLC owned approximately 0.16% of Fifth Third Bancorp worth $31,653,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FITB. Louisiana State Employees Retirement System grew its position in Fifth Third Bancorp by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 46,500 shares of the financial services provider’s stock valued at $1,207,000 after purchasing an additional 400 shares during the period. Aperio Group LLC grew its position in Fifth Third Bancorp by 14.1% in the 2nd quarter. Aperio Group LLC now owns 467,785 shares of the financial services provider’s stock valued at $12,144,000 after purchasing an additional 57,799 shares during the period. Manning & Napier Advisors LLC grew its position in Fifth Third Bancorp by 71.6% in the 2nd quarter. Manning & Napier Advisors LLC now owns 171,184 shares of the financial services provider’s stock valued at $4,443,000 after purchasing an additional 71,423 shares during the period. APG Asset Management N.V. grew its position in Fifth Third Bancorp by 11.1% in the 2nd quarter. APG Asset Management N.V. now owns 661,391 shares of the financial services provider’s stock valued at $17,170,000 after purchasing an additional 66,000 shares during the period. Finally, Duncker Streett & Co. Inc. grew its position in Fifth Third Bancorp by 0.3% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 17 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

FITB has been the subject of several research reports. Royal Bank Of Canada lifted their price target on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Thursday, July 27th. BMO Capital Markets reissued a “market perform” rating and issued a $28.00 price target (up previously from $27.00) on shares of Fifth Third Bancorp in a research report on Tuesday, July 25th. Sanford C. Bernstein reissued a “market perform” rating and issued a $31.00 price target (up previously from $29.00) on shares of Fifth Third Bancorp in a research report on Saturday, September 16th. Finally, Bank of America Corporation lifted their price target on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $28.23.

Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up $0.12 during trading hours on Monday, hitting $28.57. 1,320,732 shares of the company were exchanged, compared to its average volume of 5,757,261. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93. The stock has a market cap of $20,140.00, a P/E ratio of 15.81, a P/E/G ratio of 2.37 and a beta of 1.34. Fifth Third Bancorp has a 52 week low of $23.20 and a 52 week high of $29.39.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.48. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same period in the previous year, the firm earned $0.65 EPS. analysts predict that Fifth Third Bancorp will post 1.79 EPS for the current year.

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In related news, EVP Timothy Spence sold 15,000 shares of the business’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the sale, the executive vice president now directly owns 154,577 shares in the company, valued at approximately $4,461,092.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

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.

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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