The Advisory Services Network LLC reaches $112,000 position of Fifth Third Bancorp (FITB)

The Advisory Services Network LLC reaches $112,000 position  of Fifth Third Bancorp (FITB)

Advisory Services Network LLC raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 153.2% during the second quarter, Holdings Channel reports. The institutional investor owned 6,375 shares of the financial services provider’s stock after buying an additional 3,857 shares during the period. Advisory Services Network LLC’s holdings in Fifth Third Bancorp were worth $112,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its position in shares of Fifth Third Bancorp by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 20,366,757 shares of the financial services provider’s stock worth $339,921,000 after buying an additional 81,851 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Fifth Third Bancorp by 0.6% in the first quarter. Geode Capital Management LLC now owns 6,981,349 shares of the financial services provider’s stock worth $116,300,000 after buying an additional 44,688 shares in the last quarter. BlackRock Group LTD raised its position in shares of Fifth Third Bancorp by 1.4% in the first quarter. BlackRock Group LTD now owns 6,582,956 shares of the financial services provider’s stock worth $109,869,000 after buying an additional 94,050 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Fifth Third Bancorp by 0.3% in the first quarter. UBS Asset Management Americas Inc. now owns 4,042,503 shares of the financial services provider’s stock worth $67,469,000 after buying an additional 12,179 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Fifth Third Bancorp by 0.3% in the second quarter. Robeco Institutional Asset Management B.V. now owns 3,581,704 shares of the financial services provider’s stock worth $63,001,000 after buying an additional 9,904 shares in the last quarter. Hedge funds and other institutional investors own 79.73% of the company’s stock.

Fifth Third Bancorp (NASDAQ:FITB) traded down 0.025% during trading on Wednesday, hitting $20.385. The stock had a trading volume of 4,942,555 shares. Fifth Third Bancorp has a 52-week low of $13.84 and a 52-week high of $21.14. The stock has a market capitalization of $15.62 billion, a PE ratio of 9.929 and a beta of 1.33. The stock’s 50-day moving average is $20.30 and its 200-day moving average is $18.67.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same quarter last year, the firm posted $0.36 EPS. On average, analysts predict that Fifth Third Bancorp will post $1.60 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.52 annualized dividend and a yield of 2.55%. Fifth Third Bancorp’s payout ratio is presently 25.49%.

A number of brokerages have recently issued reports on FITB. Evercore ISI downgraded shares of Fifth Third Bancorp to a “hold” rating and set a $18.00 price target on the stock. in a report on Friday, July 15th. Stephens downgraded shares of Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 5th. Wedbush began coverage on shares of Fifth Third Bancorp in a report on Thursday, October 6th. They issued a “neutral” rating and a $22.00 price target on the stock. Deutsche Bank AG reissued a “hold” rating on shares of Fifth Third Bancorp in a report on Wednesday, June 15th. Finally, Credit Suisse Group AG reissued a “sell” rating on shares of Fifth Third Bancorp in a report on Tuesday, July 12th. Two equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $20.64.

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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