Fifth Third Bancorp (FITB) Position Boosted by KBC Group NV

KBC Group NV grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 54.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 289,194 shares of the financial services provider’s stock after purchasing an additional 101,666 shares during the quarter. KBC Group NV’s holdings in Fifth Third Bancorp were worth $8,092,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Fifth Third Bancorp by 1.1% during the second quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock worth $1,502,604,000 after buying an additional 639,361 shares during the period. Sanders Capital LLC boosted its stake in shares of Fifth Third Bancorp by 1.7% during the third quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock worth $390,680,000 after buying an additional 224,800 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Fifth Third Bancorp by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock worth $269,182,000 after buying an additional 431,863 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Fifth Third Bancorp by 7,461.4% during the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after buying an additional 7,511,357 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in shares of Fifth Third Bancorp by 3.0% during the third quarter. Russell Investments Group Ltd. now owns 4,083,708 shares of the financial services provider’s stock worth $114,232,000 after buying an additional 118,177 shares during the period. 83.97% of the stock is currently owned by institutional investors.

Shares of Fifth Third Bancorp (FITB) opened at $31.36 on Tuesday. Fifth Third Bancorp has a 12-month low of $23.20 and a 12-month high of $31.83. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $21,654.29, a P/E ratio of 17.05, a PEG ratio of 2.55 and a beta of 1.35.

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

In other news, EVP Timothy Spence sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total transaction of $432,900.00. Following the completion of the transaction, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at approximately $4,461,092.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Nomura increased their target price on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Thursday, September 28th. Robert W. Baird downgraded shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 target price for the company. in a research note on Monday, October 2nd. Zacks Investment Research downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Wells Fargo & Company started coverage on shares of Fifth Third Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $27.00 price objective for the company. Four research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $28.23.

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

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