Morgan Stanley Decreases Holdings in Fifth Third Bancorp (FITB)

Morgan Stanley trimmed its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,743,568 shares of the financial services provider’s stock after selling 239,557 shares during the period. Morgan Stanley owned approximately 0.41% of Fifth Third Bancorp worth $78,741,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp acquired a new position in Fifth Third Bancorp during the second quarter worth $103,000. Well Done LLC acquired a new position in Fifth Third Bancorp during the first quarter worth $114,000. Migdal Insurance & Financial Holdings Ltd. lifted its stake in Fifth Third Bancorp by 8,368.1% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,980 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 3,933 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Fifth Third Bancorp by 3,223.6% during the first quarter. Summit Trail Advisors LLC now owns 127,661 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 123,820 shares in the last quarter. Finally, First Mercantile Trust Co. acquired a new position in Fifth Third Bancorp during the second quarter worth $149,000. Institutional investors own 83.86% of the company’s stock.

Shares of NASDAQ:FITB opened at $29.50 on Monday. 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 stock has a market capitalization of $19.71 billion, a P/E ratio of 13.41, a PEG ratio of 1.64 and a beta of 1.25. Fifth Third Bancorp has a 52 week low of $26.98 and a 52 week high of $34.67.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate 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 firm 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.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be given a $0.18 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.72 dividend on an annualized basis and a yield of 2.44%. Fifth Third Bancorp’s payout ratio is currently 26.87%.

A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Wedbush cut their price objective on Fifth Third Bancorp from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, July 20th. BMO Capital Markets cut their price objective on Fifth Third Bancorp from $34.00 to $32.00 and set a “$29.19” rating on the stock in a research report on Monday, July 23rd. BidaskClub lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 30th. Finally, Argus assumed coverage on Fifth Third Bancorp in a research report on Thursday, June 14th. They set a “buy” rating and a $36.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. Fifth Third Bancorp has a consensus rating of “Hold” and an average target price of $32.11.

About Fifth Third Bancorp

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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