USA Financial Portformulas Corp Takes $429,000 Position in Fifth Third Bancorp (FITB)

USA Financial Portformulas Corp acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,943 shares of the financial services provider’s stock, valued at approximately $429,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FITB. MUFG Americas Holdings Corp bought a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $103,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Fifth Third Bancorp by 8,368.1% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,980 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 3,933 shares during the last quarter. Centaurus Financial Inc. bought a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $131,000. First Mercantile Trust Co. bought a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $149,000. Finally, Regentatlantic Capital LLC bought a new stake in Fifth Third Bancorp during the 2nd quarter worth approximately $207,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:FITB opened at $27.36 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.88 and a current ratio of 0.89. Fifth Third Bancorp has a 52 week low of $24.10 and a 52 week high of $34.67. The firm has a market capitalization of $18.28 billion, a PE ratio of 11.59, a PEG ratio of 1.53 and a beta of 1.18.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. Fifth Third Bancorp had a net margin of 28.89% and a return on equity of 11.74%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the firm posted $1.35 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 2.49 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend was Thursday, September 27th. Fifth Third Bancorp’s dividend payout ratio is currently 26.87%.

A number of equities research analysts have weighed in on the stock. BidaskClub raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Wedbush reduced their target price on shares of Fifth Third Bancorp from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, July 20th. BMO Capital Markets reduced their target price on shares of Fifth Third Bancorp from $34.00 to $32.00 and set a “$29.19” rating on the stock in a report on Monday, July 23rd. Finally, Piper Jaffray Companies set a $31.00 target price on shares of Fifth Third Bancorp and gave the stock a “hold” rating in a report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.31.

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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