Wealthfront Inc. Has $1.32 Million Position in Fifth Third Bancorp (FITB)

Wealthfront Inc. increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,351 shares of the financial services provider’s stock after purchasing an additional 2,347 shares during the quarter. Wealthfront Inc.’s holdings in Fifth Third Bancorp were worth $1,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. First Trust Advisors LP raised its stake in Fifth Third Bancorp by 93.2% in the fourth quarter. First Trust Advisors LP now owns 3,726,358 shares of the financial services provider’s stock valued at $113,058,000 after buying an additional 1,797,343 shares during the last quarter. Bank of Montreal Can raised its stake in Fifth Third Bancorp by 83.1% in the fourth quarter. Bank of Montreal Can now owns 3,058,088 shares of the financial services provider’s stock valued at $92,783,000 after buying an additional 1,388,121 shares during the last quarter. APG Asset Management N.V. raised its stake in Fifth Third Bancorp by 334.2% in the fourth quarter. APG Asset Management N.V. now owns 1,193,299 shares of the financial services provider’s stock valued at $30,150,000 after buying an additional 918,500 shares during the last quarter. Rockefeller Financial Services Inc. raised its stake in Fifth Third Bancorp by 118.9% in the fourth quarter. Rockefeller Financial Services Inc. now owns 1,597,736 shares of the financial services provider’s stock valued at $48,475,000 after buying an additional 867,916 shares during the last quarter. Finally, PGGM Investments raised its stake in Fifth Third Bancorp by 170.3% in the fourth quarter. PGGM Investments now owns 896,600 shares of the financial services provider’s stock valued at $27,203,000 after buying an additional 564,850 shares during the last quarter. Hedge funds and other institutional investors own 84.01% of the company’s stock.

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at $33.21 on Wednesday. The company has a market capitalization of $22,985.76, a PE ratio of 11.65, a P/E/G 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. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, January 23rd. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. Fifth Third Bancorp had a return on equity of 9.65% and a net margin of 27.08%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period last year, the company earned $0.49 earnings per share. analysts predict that Fifth Third Bancorp will post 2.3 EPS for the current year.

In other Fifth Third Bancorp news, EVP Jelena Mcwilliams sold 1,952 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $33.01, for a total value of $64,435.52. Following the sale, the executive vice president now directly owns 6,034 shares of the company’s stock, valued at $199,182.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Frank R. Forrest sold 4,836 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were 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 directly owns 112,474 shares in the company, valued at $3,587,920.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,086 shares of company stock worth $3,951,344. 0.38% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on FITB shares. Royal Bank of Canada restated a “buy” rating on shares of Fifth Third Bancorp in a research note on Sunday, December 10th. BidaskClub upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research note on Monday, January 8th. Vining Sparks restated a “buy” rating and issued a $35.00 price objective on shares of Fifth Third Bancorp in a research note on Sunday, January 28th. Finally, Morgan Stanley raised their price objective on Fifth Third Bancorp from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 13th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Fifth Third Bancorp has a consensus rating of “Hold” and a consensus price target of $30.70.

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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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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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