Wells Fargo & Company MN raised its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,281,010 shares of the financial services provider’s stock after buying an additional 256,235 shares during the quarter. Wells Fargo & Company MN’s holdings in Fifth Third Bancorp were worth $190,564,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in FITB. Horan Capital Advisors LLC. purchased a new position in Fifth Third Bancorp during the third quarter valued at $102,000. Valeo Financial Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter worth $119,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth $148,000. SeaCrest Wealth Management LLC purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth $162,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Fifth Third Bancorp by 268.9% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,456 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 4,706 shares during the last quarter. Institutional investors and hedge funds own 84.41% of the company’s stock.
In other Fifth Third Bancorp news, SVP Mark D. Hazel sold 7,500 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $32.81, for a total transaction of $246,075.00. Following the completion of the sale, the senior vice president now owns 62,254 shares of the company’s stock, valued at $2,042,553.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jelena Mcwilliams sold 1,952 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were 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 approximately $199,182.34. The disclosure for this sale can be found here. Insiders sold 122,086 shares of company stock valued at $3,951,344 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.
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, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. analysts forecast that Fifth Third Bancorp will post 2.3 EPS for the current fiscal year.
Several research firms have recently weighed in on FITB. BidaskClub upgraded Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Vining Sparks restated a “buy” rating and issued a $35.00 price target on shares of Fifth Third Bancorp in a research note on Sunday, January 28th. Morgan Stanley boosted their price target on Fifth Third Bancorp from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $35.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, January 24th. Finally, Bank of America boosted their price target on Fifth Third Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.70.
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Fifth Third Bancorp Company 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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