grace capital lowered its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 17.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 135,950 shares of the financial services provider’s stock after selling 27,956 shares during the quarter. Fifth Third Bancorp accounts for about 1.5% of grace capital’s holdings, making the stock its 13th biggest position. grace capital’s holdings in Fifth Third Bancorp were worth $3,902,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the business. Well Done LLC purchased a new position in shares of Fifth Third Bancorp in the first quarter valued at $114,000. MUFG Americas Holdings Corp purchased a new position in shares of Fifth Third Bancorp in the second quarter valued at $103,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Fifth Third Bancorp by 8,368.1% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,980 shares of the financial services provider’s stock valued at $114,000 after buying an additional 3,933 shares in the last quarter. First Mercantile Trust Co. purchased a new position in shares of Fifth Third Bancorp in the second quarter valued at $149,000. Finally, Point72 Asia Hong Kong Ltd purchased a new position in shares of Fifth Third Bancorp in the first quarter valued at $181,000. 83.91% of the stock is owned by institutional investors.

Fifth Third Bancorp stock opened at $29.39 on Wednesday. The stock has a market cap of $19.70 billion, a P/E ratio of 10.97, a P/E/G ratio of 1.64 and a beta of 1.25. Fifth Third Bancorp has a 52 week low of $25.75 and a 52 week high of $34.67. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Fifth Third Bancorp had a return on equity of 11.12% and a net margin of 32.86%. During the same quarter last year, the business posted $0.45 EPS. sell-side analysts forecast that Fifth Third Bancorp will post 2.51 earnings per share for the current year.

A number of brokerages have recently weighed in on FITB. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “strong-buy” rating and set a $37.00 price target for the company in a research report on Monday, May 28th. Robert W. Baird upgraded Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $32.00 price target for the company in a research report on Tuesday, May 22nd. Argus began coverage on Fifth Third Bancorp in a research report on Thursday, June 14th. They issued a “buy” rating and a $36.00 price target for the company. BidaskClub cut Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 1st. Finally, FIG Partners cut Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a research report on Monday, May 21st. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $32.18.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

See Also: Leveraged Buyout (LBO)

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

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