Livforsakringsbolaget Skandia Omsesidigt held its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,413 shares of the financial services provider’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Fifth Third Bancorp were worth $1,049,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in FITB. Assetmark Inc. boosted its stake in shares of Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after buying an additional 32 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Fifth Third Bancorp by 7.1% in the first quarter. Quadrant Capital Group LLC now owns 5,581 shares of the financial services provider’s stock worth $138,000 after buying an additional 370 shares during the period. Sterling Investment Advisors Ltd. boosted its stake in shares of Fifth Third Bancorp by 20.8% in the first quarter. Sterling Investment Advisors Ltd. now owns 5,800 shares of the financial services provider’s stock worth $147,000 after buying an additional 1,000 shares during the period. YorkBridge Wealth Partners LLC boosted its stake in shares of Fifth Third Bancorp by 5.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,816 shares of the financial services provider’s stock worth $142,000 after buying an additional 298 shares during the period. Finally, Ullmann Financial Group Inc. bought a new stake in shares of Fifth Third Bancorp during the first quarter worth approximately $167,000. 81.20% of the stock is owned by hedge funds and other institutional investors.
Shares of Fifth Third Bancorp (NASDAQ FITB) opened at 26.48 on Monday. The company has a market cap of $19.87 billion, a PE ratio of 13.85 and a beta of 1.37. Fifth Third Bancorp has a 1-year low of $17.19 and a 1-year high of $28.97. The company has a 50-day moving average price of $24.66 and a 200-day moving average price of $25.83.
Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.38 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Fifth Third Bancorp had a return on equity of 10.12% and a net margin of 22.64%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Equities research analysts expect that Fifth Third Bancorp will post $1.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be given a $0.14 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.56 annualized dividend and a yield of 2.11%. Fifth Third Bancorp’s dividend payout ratio is currently 29.17%.
A number of analysts have recently commented on FITB shares. Compass Point raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 29th. They noted that the move was a valuation call. Hilliard Lyons raised Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $27.00 price target for the company in a research note on Monday, March 20th. BidaskClub raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Piper Jaffray Companies lowered their price target on Fifth Third Bancorp from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, April 11th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $28.00 price target on shares of Fifth Third Bancorp in a research note on Tuesday, April 4th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $25.84.
In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 13,321 shares of the business’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $24.63, for a total value of $328,096.23. Following the transaction, the executive vice president now owns 71,793 shares of the company’s stock, valued at $1,768,261.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Teresa J. Tanner sold 26,010 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $24.90, for a total value of $647,649.00. Following the completion of the transaction, the chief accounting officer now directly owns 41,286 shares in the company, valued at approximately $1,028,021.40. The disclosure for this sale can be found here. In the last three months, insiders sold 109,315 shares of company stock worth $2,716,947. Insiders own 0.38% of the company’s stock.
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.
Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITB).
This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2285250/livforsakringsbolaget-skandia-omsesidigt-has-1049000-stake-in-fifth-third-bancorp-nasdaqfitb.html
Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.