Schwab Charles Investment Management Inc. reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,508,985 shares of the financial services provider’s stock after selling 42,231 shares during the period. Schwab Charles Investment Management Inc. owned 0.36% of Fifth Third Bancorp worth $70,202,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Horan Capital Advisors LLC. bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $102,000. Sun Life Financial INC raised its holdings in shares of Fifth Third Bancorp by 55,050.0% in the 2nd quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 5,505 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $202,000. Regentatlantic Capital LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $205,000. Finally, Dorsey & Whitney Trust CO LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $217,000. 84.00% of the stock is owned by institutional investors.
A number of research firms have recently issued reports on FITB. Macquarie lowered shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and cut their price target for the company from $28.47 to $26.00 in a report on Friday, November 17th. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Nomura boosted their price target on shares of Fifth Third Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. Bank of America boosted their price target on shares of Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Finally, Royal Bank Of Canada boosted their price target on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $28.23.
Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. During the same quarter in the prior year, the business earned $0.65 EPS. equities research analysts expect that Fifth Third Bancorp will post 1.79 earnings per share for the current year.
In other Fifth Third Bancorp news, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the transaction, the executive vice president now owns 154,577 shares in the company, valued at approximately $4,461,092.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.
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Fifth Third Bancorp 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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