Migdal Insurance & Financial Holdings Ltd. Has $199,000 Position in Fifth Third Bancorp (FITB)

Migdal Insurance & Financial Holdings Ltd. increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 79.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,128 shares of the financial services provider’s stock after acquiring an additional 3,148 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Fifth Third Bancorp were worth $199,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FITB. BlackRock Inc. increased its stake in Fifth Third Bancorp by 5.9% during the 2nd quarter. BlackRock Inc. now owns 48,455,130 shares of the financial services provider’s stock valued at $1,390,661,000 after buying an additional 2,718,504 shares during the period. Janus Henderson Group PLC increased its stake in Fifth Third Bancorp by 119.9% during the 2nd quarter. Janus Henderson Group PLC now owns 4,875,534 shares of the financial services provider’s stock valued at $139,929,000 after buying an additional 2,658,672 shares during the period. Schroder Investment Management Group increased its stake in Fifth Third Bancorp by 106.3% during the 2nd quarter. Schroder Investment Management Group now owns 4,166,562 shares of the financial services provider’s stock valued at $119,747,000 after buying an additional 2,146,656 shares during the period. Millennium Management LLC increased its stake in Fifth Third Bancorp by 658.6% during the 2nd quarter. Millennium Management LLC now owns 1,622,956 shares of the financial services provider’s stock valued at $46,579,000 after buying an additional 1,409,021 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Fifth Third Bancorp by 16.9% during the 2nd quarter. Wells Fargo & Company MN now owns 7,362,392 shares of the financial services provider’s stock valued at $211,301,000 after buying an additional 1,062,218 shares during the period. 83.95% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:FITB opened at $26.71 on Friday. Fifth Third Bancorp has a twelve month low of $24.10 and a twelve month high of $34.67. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a market cap of $17.51 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 1.50 and a beta of 1.18.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, October 23rd. The financial services provider reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Fifth Third Bancorp had a net margin of 28.89% and a return on equity of 11.74%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted $1.35 EPS. Equities research analysts expect that Fifth Third Bancorp will post 2.49 earnings per share for the current year.

Several equities analysts have commented on FITB shares. Wedbush set a $34.00 target price on shares of Fifth Third Bancorp and gave the company a “buy” rating in a research note on Thursday, September 20th. ValuEngine cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Morgan Stanley lowered their target price on shares of Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 18th. Nomura raised shares of Fifth Third Bancorp from a “reduce” rating to a “neutral” rating and lowered their target price for the company from $32.00 to $29.00 in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies set a $31.00 target price on shares of Fifth Third Bancorp and gave the company a “hold” rating in a research note on Monday, October 29th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $32.73.

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About Fifth Third Bancorp

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.

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

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