Barings LLC boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 108.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,902 shares of the financial services provider’s stock after purchasing an additional 46,300 shares during the quarter. Barings LLC’s holdings in Fifth Third Bancorp were worth $2,697,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Horan Capital Advisors LLC. acquired a new position in Fifth Third Bancorp in the third quarter worth $102,000. Valeo Financial Advisors LLC acquired a new position in Fifth Third Bancorp in the third quarter worth $119,000. Harvest Fund Management Co. Ltd acquired a new position in Fifth Third Bancorp in the fourth quarter worth $148,000. SeaCrest Wealth Management LLC acquired a new position in Fifth Third Bancorp in the fourth quarter worth $162,000. Finally, Benjamin F. Edwards & Company Inc. boosted its holdings in Fifth Third Bancorp by 268.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,456 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 4,706 shares during the period. 84.41% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Jelena Mcwilliams sold 1,952 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $33.01, for a total transaction of $64,435.52. Following the sale, the executive vice president now directly owns 6,034 shares in the company, valued at $199,182.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Greg D. Carmichael sold 87,613 shares of Fifth Third Bancorp stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $32.37, for a total transaction of $2,836,032.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 122,086 shares of company stock worth $3,951,344. Company insiders own 0.38% of the company’s stock.
Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. sell-side analysts expect that Fifth Third Bancorp will post 2.3 EPS for the current year.
A number of equities analysts have commented on the stock. BidaskClub raised shares of Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Morgan Stanley lifted their price objective on shares of Fifth Third Bancorp from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Vining Sparks reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Fifth Third Bancorp in a report on Sunday, January 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, January 24th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $36.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $30.70.
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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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