Context BH Capital Management LP Acquires 5,365 Shares of Fifth Third Bancorp (FITB)

Context BH Capital Management LP increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 45.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,245 shares of the financial services provider’s stock after buying an additional 5,365 shares during the period. Context BH Capital Management LP’s holdings in Fifth Third Bancorp were worth $483,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Fifth Third Bancorp by 1.1% during the second quarter. Vanguard Group Inc. now owns 57,881,541 shares of the financial services provider’s stock worth $1,502,604,000 after buying an additional 639,361 shares during the last quarter. Sanders Capital LLC raised its stake in shares of Fifth Third Bancorp by 1.7% during the third quarter. Sanders Capital LLC now owns 13,152,538 shares of the financial services provider’s stock worth $390,680,000 after buying an additional 224,800 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Fifth Third Bancorp by 4.3% during the second quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider’s stock worth $269,182,000 after buying an additional 431,863 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Fifth Third Bancorp by 7,461.4% during the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock worth $197,608,000 after buying an additional 7,511,357 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Fifth Third Bancorp by 0.8% during the second quarter. Legal & General Group Plc now owns 3,870,613 shares of the financial services provider’s stock worth $100,481,000 after buying an additional 29,378 shares during the last quarter. 81.45% of the stock is owned by institutional investors and hedge funds.

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Fifth Third Bancorp (NASDAQ:FITB) traded up $0.20 during midday trading on Tuesday, reaching $28.39. 1,217,937 shares of the company’s stock traded hands, compared to its average volume of 5,775,685. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.89. Fifth Third Bancorp has a 1 year low of $23.20 and a 1 year high of $29.39. The company has a market capitalization of $19,523.43, a price-to-earnings ratio of 15.37, a P/E/G ratio of 2.29 and a beta of 1.34.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 25.81% and a return on equity of 9.58%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same period in the prior year, the firm posted $0.65 earnings per share. sell-side analysts expect that Fifth Third Bancorp will post 1.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.16 dividend. The ex-dividend date was Thursday, September 28th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 2.25%. Fifth Third Bancorp’s dividend payout ratio is presently 23.97%.

A number of equities research analysts recently weighed in on FITB shares. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fifth Third Bancorp in a research note on Saturday, July 22nd. Zacks Investment Research upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Thursday, July 27th. Royal Bank Of Canada boosted their price objective on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 25th. BMO Capital Markets restated a “market perform” rating and set a $28.00 price objective (up previously from $27.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 25th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $31.00 price objective (up previously from $29.00) on shares of Fifth Third Bancorp in a report on Saturday, September 16th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and two have assigned a buy rating to the company’s stock. Fifth Third Bancorp presently has an average rating of “Hold” and a consensus price target of $28.33.

In other news, EVP Timothy Spence sold 15,000 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $28.86, for a total value of $432,900.00. Following the transaction, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Frank R. Forrest sold 7,004 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $26.21, for a total transaction of $183,574.84. Following the completion of the transaction, the executive vice president now directly owns 71,793 shares in the company, valued at $1,881,694.53. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

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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