ARP Americas LP purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 81,000 shares of the financial services provider’s stock, valued at approximately $2,458,000.
Other large investors have also made changes to their positions in the company. Horan Capital Advisors LLC. bought a new position in shares of Fifth Third Bancorp during the third quarter valued at $102,000. Valeo Financial Advisors LLC bought a new position in shares of Fifth Third Bancorp during the third quarter valued at $119,000. Harvest Fund Management Co. Ltd bought a new position in shares of Fifth Third Bancorp during the fourth quarter valued at $148,000. SeaCrest Wealth Management LLC purchased a new stake in Fifth Third Bancorp during the fourth quarter valued at $162,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in Fifth Third Bancorp by 268.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,456 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 4,706 shares during the last quarter. 84.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fifth Third Bancorp (FITB) opened at $33.13 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.90 and a quick ratio of 0.89. The company has a market capitalization of $23,380.00, a PE ratio of 11.62, a price-to-earnings-growth ratio of 1.83 and a beta of 1.36. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $33.91.
In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 4,836 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $31.90, for a total value of $154,268.40. Following the completion of the sale, the executive vice president now owns 112,474 shares in the company, valued at $3,587,920.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jelena Mcwilliams sold 1,952 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $33.01, for a total value of $64,435.52. Following the completion of the sale, the executive vice president now owns 6,034 shares of the company’s stock, valued at approximately $199,182.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,086 shares of company stock valued at $3,951,344. Company insiders own 0.38% of the company’s stock.
A number of research firms recently commented on FITB. BidaskClub upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. BMO Capital Markets reiterated a “hold” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Friday, December 8th. Oppenheimer reiterated a “hold” rating on shares of Fifth Third Bancorp in a research report on Thursday, December 7th. Zacks Investment Research cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 12th. Finally, Nomura upped their price objective on Fifth Third Bancorp from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Fifth Third Bancorp presently has an average rating of “Hold” and a consensus target price of $30.70.
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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