Fifth Third Bancorp (FITB) Shares Bought by Stoneridge Investment Partners LLC
Stoneridge Investment Partners LLC boosted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.2% during the second quarter, Holdings Channel reports. The fund owned 107,476 shares of the financial services provider’s stock after buying an additional 6,231 shares during the period. Stoneridge Investment Partners LLC’s holdings in Fifth Third Bancorp were worth $1,891,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FITB. Duncker Streett & Co. Inc. increased its position in Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,419 shares of the financial services provider’s stock valued at $113,000 after buying an additional 20 shares during the last quarter. Brick & Kyle Associates increased its position in Fifth Third Bancorp by 46.1% in the first quarter. Brick & Kyle Associates now owns 6,660 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,100 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in Fifth Third Bancorp during the first quarter valued at approximately $112,000. Atria Investments LLC purchased a new position in Fifth Third Bancorp during the second quarter valued at approximately $179,000. Finally, Stratos Wealth Partners LTD. purchased a new position in Fifth Third Bancorp during the first quarter valued at approximately $178,000. Institutional investors own 79.73% of the company’s stock.
Fifth Third Bancorp (NASDAQ:FITB) traded up 0.48% during midday trading on Wednesday, reaching $20.74. The company’s stock had a trading volume of 7,404,512 shares. The company’s 50-day moving average is $19.80 and its 200 day moving average is $18.32. Fifth Third Bancorp has a 52 week low of $13.84 and a 52 week high of $21.14. The firm has a market capitalization of $15.89 billion, a P/E ratio of 10.10 and a beta of 1.27.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a net margin of 23.36% and a return on equity of 9.25%. During the same quarter in the prior year, the business posted $0.36 earnings per share. Analysts expect that Fifth Third Bancorp will post $1.60 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.51%. Fifth Third Bancorp’s payout ratio is 25.49%.
Several research analysts have commented on the company. Nomura restated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 9th. Wells Fargo & Co. restated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 9th. Jefferies Group reiterated a “buy” rating and issued a $21.00 price target (up from $19.50) on shares of Fifth Third Bancorp in a report on Friday, May 27th. Deutsche Bank AG reiterated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, June 4th. Finally, FBR & Co reiterated a “hold” rating and issued a $20.00 price target on shares of Fifth Third Bancorp in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and eleven have assigned a buy rating to the company. Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $20.41.
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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