BlackRock Inc. grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,455,130 shares of the financial services provider’s stock after purchasing an additional 2,718,504 shares during the quarter. BlackRock Inc. owned about 7.07% of Fifth Third Bancorp worth $1,390,661,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Well Done LLC bought a new stake in shares of Fifth Third Bancorp in the first quarter valued at about $114,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Fifth Third Bancorp by 8,368.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,980 shares of the financial services provider’s stock valued at $114,000 after buying an additional 3,933 shares during the period. First Mercantile Trust Co. bought a new stake in shares of Fifth Third Bancorp in the second quarter valued at about $149,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Fifth Third Bancorp in the first quarter valued at about $181,000. Finally, Synovus Financial Corp bought a new stake in shares of Fifth Third Bancorp in the first quarter valued at about $184,000. 83.91% of the stock is currently owned by institutional investors.

Several research firms recently weighed in on FITB. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Wedbush reduced their target price on shares of Fifth Third Bancorp from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, July 20th. BMO Capital Markets reduced their target price on shares of Fifth Third Bancorp from $34.00 to $32.00 and set a “$29.19” rating for the company in a research note on Monday, July 23rd. BidaskClub cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 22nd. Finally, ValuEngine cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $32.08.

Shares of FITB opened at $29.71 on Wednesday. The stock has a market cap of $19.68 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.28. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Fifth Third Bancorp has a 12 month low of $24.66 and a 12 month high of $34.67.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Thursday, July 19th. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Fifth Third Bancorp had a net margin of 32.86% and a return on equity of 11.12%. During the same quarter last year, the company earned $0.45 earnings per share. sell-side analysts anticipate that Fifth Third Bancorp will post 2.51 earnings per share for the current fiscal year.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

Further Reading: Moving Average (MA)

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

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