Gendell Jeffrey L lessened its position in Fifth Third Bancorp (NASDAQ:FITB) by 24.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 212,093 shares of the financial services provider’s stock after selling 67,907 shares during the period. Gendell Jeffrey L’s holdings in Fifth Third Bancorp were worth $6,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. ARP Americas LP bought a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $2,458,000. Valeo Financial Advisors LLC grew its position in shares of Fifth Third Bancorp by 40.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 6,007 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 1,737 shares during the period. Mariner Wealth Advisors LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $988,000. Wealthfront Inc. grew its position in shares of Fifth Third Bancorp by 5.7% in the 4th quarter. Wealthfront Inc. now owns 43,351 shares of the financial services provider’s stock valued at $1,315,000 after acquiring an additional 2,347 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Fifth Third Bancorp in the 4th quarter valued at about $902,000. 84.01% of the stock is owned by institutional investors.
Shares of Fifth Third Bancorp (NASDAQ FITB) opened at $33.13 on Monday. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.99. The stock has a market cap of $22,985.76, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.83 and a beta of 1.36. Fifth Third Bancorp has a twelve month low of $23.20 and a twelve month high of $33.91.
Several brokerages recently commented on FITB. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $35.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, January 24th. BidaskClub downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Nomura lifted their target price on shares of Fifth Third Bancorp from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, October 26th. Oppenheimer reaffirmed a “hold” rating on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Finally, Morgan Stanley lifted their target price 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. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $30.70.
In other Fifth Third Bancorp news, EVP Jelena Mcwilliams sold 1,952 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $33.01, for a total value of $64,435.52. Following the completion of the sale, the executive vice president now owns 6,034 shares of the company’s stock, valued at approximately $199,182.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Greg D. Carmichael sold 87,613 shares of the business’s 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. Insiders sold a total of 122,086 shares of company stock valued at $3,951,344 in the last three months. Insiders own 0.38% of the company’s stock.
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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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