Fifth Third Bancorp (FITB) Stake Boosted by American International Group Inc.

American International Group Inc. grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 37.7% during the 1st quarter, Holdings Channel reports. The firm owned 414,694 shares of the financial services provider’s stock after buying an additional 113,583 shares during the period. American International Group Inc.’s holdings in Fifth Third Bancorp were worth $10,459,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank lifted its stake in Fifth Third Bancorp by 37.5% during the 1st quarter. Toronto Dominion Bank now owns 504,715 shares of the financial services provider’s stock worth $12,725,000 after acquiring an additional 137,535 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in Fifth Third Bancorp by 17.6% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 133,378 shares of the financial services provider’s stock valued at $3,364,000 after purchasing an additional 20,000 shares in the last quarter. Sandy Spring Bank raised its position in Fifth Third Bancorp by 530.0% in the 1st quarter. Sandy Spring Bank now owns 1,783 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 1,500 shares in the last quarter. State Treasurer State of Michigan raised its position in Fifth Third Bancorp by 18.2% in the 1st quarter. State Treasurer State of Michigan now owns 221,849 shares of the financial services provider’s stock valued at $5,595,000 after purchasing an additional 34,145 shares in the last quarter. Finally, First Mercantile Trust Co. raised its position in Fifth Third Bancorp by 134.8% in the 1st quarter. First Mercantile Trust Co. now owns 17,095 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 9,815 shares in the last quarter. 84.28% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on the company. BidaskClub lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Zacks Investment Research lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Barclays increased their price target on Fifth Third Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 24th. UBS Group increased their price target on Fifth Third Bancorp from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, BMO Capital Markets increased their price target on Fifth Third Bancorp from $30.00 to $33.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.67.

FITB opened at $27.28 on Friday. Fifth Third Bancorp has a one year low of $22.12 and a one year high of $34.27. The stock has a market capitalization of $20.03 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 1.27 and a beta of 1.36. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Fifth Third Bancorp had a return on equity of 11.77% and a net margin of 26.80%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the business posted $0.57 EPS. On average, research analysts expect that Fifth Third Bancorp will post 2.77 earnings per share for the current year.

In other news, CAO Teresa J. Tanner sold 2,918 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $28.75, for a total value of $83,892.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Frank R. Forrest sold 26,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $26.37, for a total value of $685,620.00. Following the completion of the transaction, the executive vice president now owns 62,974 shares in the company, valued at approximately $1,660,624.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 84,727 shares of company stock worth $2,302,901. Company insiders own 0.40% of the company’s stock.

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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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