Commonwealth Equity Services Inc increased its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 4.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,392 shares of the financial services provider’s stock after purchasing an additional 11,133 shares during the period. Commonwealth Equity Services Inc’s holdings in Fifth Third Bancorp were worth $7,873,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Fifth Third Bancorp by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock worth $1,502,604,000 after acquiring an additional 639,361 shares in the last quarter. Sanders Capital LLC raised its holdings in Fifth Third Bancorp by 1.7% during the 3rd quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock valued at $390,680,000 after buying an additional 224,800 shares during the period. Dimensional Fund Advisors LP raised its holdings in Fifth Third Bancorp by 4.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock valued at $269,182,000 after buying an additional 431,863 shares during the period. Janus Henderson Group PLC raised its holdings in Fifth Third Bancorp by 7,461.4% during the 2nd quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock valued at $197,608,000 after buying an additional 7,511,357 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Fifth Third Bancorp by 3.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,083,708 shares of the financial services provider’s stock valued at $114,232,000 after buying an additional 118,177 shares during the period. 84.00% of the stock is currently owned by institutional investors.
Fifth Third Bancorp (NASDAQ:FITB) traded up $0.18 on Friday, hitting $30.69. The stock had a trading volume of 7,490,000 shares, compared to its average volume of 4,854,737. Fifth Third Bancorp has a fifty-two week low of $23.20 and a fifty-two week high of $31.11. The company has a market cap of $21,654.28, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 2.55 and a beta of 1.35. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.93.
In related news, EVP Timothy Spence sold 15,000 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $28.86, for a total transaction of $432,900.00. Following the sale, the executive vice president now owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by company insiders.
Several analysts recently weighed in on FITB shares. Zacks Investment Research lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, October 27th. UBS restated a “sell” rating and set a $26.00 price target (up previously from $25.00) on shares of Fifth Third Bancorp in a report on Friday, October 6th. Bank of America increased their price target on Fifth Third Bancorp from $28.00 to $29.00 and gave the company a “neutral” rating in a report on Wednesday, October 25th. Piper Jaffray Companies restated a “hold” rating and set a $27.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Finally, Oppenheimer restated a “hold” rating on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Four research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $28.23.
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About Fifth Third Bancorp
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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