Fifth Third Bancorp (FITB) Stake Increased by Glen Harbor Capital Management LLC

Glen Harbor Capital Management LLC grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 32.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 311,600 shares of the financial services provider’s stock after buying an additional 76,928 shares during the quarter. Glen Harbor Capital Management LLC’s holdings in Fifth Third Bancorp were worth $8,943,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FITB. Bartlett & Co. LLC increased its position in shares of Fifth Third Bancorp by 556.7% during the second quarter. Bartlett & Co. LLC now owns 72,446 shares of the financial services provider’s stock worth $2,079,000 after purchasing an additional 61,414 shares in the last quarter. Thomas White International Ltd. purchased a new stake in shares of Fifth Third Bancorp during the second quarter worth approximately $390,000. GAM Holding AG increased its position in shares of Fifth Third Bancorp by 151.8% during the second quarter. GAM Holding AG now owns 29,719 shares of the financial services provider’s stock worth $853,000 after purchasing an additional 17,916 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Fifth Third Bancorp by 1.0% during the second quarter. Nisa Investment Advisors LLC now owns 420,191 shares of the financial services provider’s stock worth $12,059,000 after purchasing an additional 4,155 shares in the last quarter. Finally, CIBC World Markets Inc. increased its position in shares of Fifth Third Bancorp by 102.9% during the second quarter. CIBC World Markets Inc. now owns 162,268 shares of the financial services provider’s stock worth $4,657,000 after purchasing an additional 82,298 shares in the last quarter. Institutional investors and hedge funds own 83.91% of the company’s stock.

Shares of NASDAQ:FITB opened at $29.50 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $19.83 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 1.65 and a beta of 1.25. Fifth Third Bancorp has a 52-week low of $24.66 and a 52-week high of $34.67.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Thursday, July 19th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Fifth Third Bancorp had a return on equity of 11.12% and a net margin of 32.86%. During the same period in the prior year, the business earned $0.45 EPS. equities analysts expect that Fifth Third Bancorp will post 2.51 earnings per share for the current fiscal year.

Several analysts recently commented on FITB shares. BMO Capital Markets dropped their price target on Fifth Third Bancorp from $34.00 to $32.00 and set a “$29.19” rating for the company in a research report on Monday, July 23rd. BidaskClub cut Fifth Third Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 22nd. Argus started coverage on Fifth Third Bancorp in a research report on Thursday, June 14th. They set a “buy” rating and a $36.00 price target for the company. Vining Sparks reiterated a “buy” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a research report on Thursday, July 19th. Finally, Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Monday, July 16th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.18.

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.

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

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