OLD National Bancorp IN Lowers Position in Fifth Third Bancorp (NASDAQ:FITB)

OLD National Bancorp IN decreased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 10.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,338 shares of the financial services provider’s stock after selling 7,972 shares during the quarter. OLD National Bancorp IN’s holdings in Fifth Third Bancorp were worth $2,043,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. Horan Capital Advisors LLC. purchased a new stake in shares of Fifth Third Bancorp during the 3rd quarter valued at about $102,000. Valeo Financial Advisors LLC bought a new position in Fifth Third Bancorp during the 3rd quarter valued at about $119,000. Harvest Fund Management Co. Ltd bought a new position in Fifth Third Bancorp during the 4th quarter valued at about $148,000. SeaCrest Wealth Management LLC bought a new position in Fifth Third Bancorp during the 4th quarter valued at about $162,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Fifth Third Bancorp by 268.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 6,456 shares of the financial services provider’s stock valued at $196,000 after purchasing an additional 4,706 shares during the last quarter. Institutional investors own 84.01% of the company’s stock.

In related news, EVP Frank R. Forrest sold 4,836 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $31.90, for a total value of $154,268.40. Following the completion of the transaction, the executive vice president now owns 112,474 shares in the company, valued at $3,587,920.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Mark D. Hazel sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $32.81, for a total transaction of $246,075.00. Following the completion of the transaction, the senior vice president now owns 62,254 shares of the company’s stock, valued at approximately $2,042,553.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,086 shares of company stock worth $3,951,344. Company insiders own 0.38% of the company’s stock.

A number of equities analysts have commented on FITB shares. BidaskClub upgraded shares of Fifth Third Bancorp from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Vining Sparks reaffirmed a “buy” rating and issued a $35.00 price target on shares of Fifth Third Bancorp in a research report on Sunday, January 28th. Morgan Stanley upped their price target on shares of Fifth Third Bancorp from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $35.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, January 24th. Finally, Bank of America increased their target price on shares of Fifth Third Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.70.

Fifth Third Bancorp (NASDAQ:FITB) traded down $0.07 during mid-day trading on Tuesday, reaching $33.13. 6,874,100 shares of the company traded hands, compared to its average volume of 5,375,204. The firm has a market capitalization of $22,985.76, a price-to-earnings ratio of 11.71, a PEG ratio of 1.83 and a beta of 1.36. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.99. Fifth Third Bancorp has a 52 week low of $23.20 and a 52 week high of $33.91.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, January 23rd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.05. Fifth Third Bancorp had a net margin of 27.08% and a return on equity of 9.65%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter last year, the business earned $0.49 earnings per share. research analysts predict that Fifth Third Bancorp will post 2.3 EPS for the current year.

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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.

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

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