Manning & Napier Group LLC raised its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,788 shares of the financial services provider’s stock after buying an additional 9,518 shares during the quarter. Manning & Napier Group LLC’s holdings in Fifth Third Bancorp were worth $5,242,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in FITB. MUFG Americas Holdings Corp bought a new stake in Fifth Third Bancorp in the 2nd quarter valued at $103,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in Fifth Third Bancorp by 8,368.1% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,980 shares of the financial services provider’s stock valued at $114,000 after buying an additional 3,933 shares during the period. Summit Trail Advisors LLC increased its holdings in Fifth Third Bancorp by 3,223.6% in the 1st quarter. Summit Trail Advisors LLC now owns 127,661 shares of the financial services provider’s stock valued at $128,000 after buying an additional 123,820 shares during the period. Centaurus Financial Inc. bought a new stake in Fifth Third Bancorp in the 2nd quarter valued at $131,000. Finally, First Mercantile Trust Co. bought a new stake in Fifth Third Bancorp in the 2nd quarter valued at $149,000. 83.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:FITB opened at $26.84 on Friday. Fifth Third Bancorp has a 12 month low of $26.32 and a 12 month high of $34.67. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market cap of $18.65 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 1.55 and a beta of 1.27.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Thursday, July 19th. The financial services provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. Fifth Third Bancorp had a net margin of 32.86% and a return on equity of 11.12%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. Analysts expect that Fifth Third Bancorp will post 2.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Thursday, September 27th. Fifth Third Bancorp’s dividend payout ratio is currently 26.87%.
Several research firms have recently weighed in on FITB. Wedbush set a $34.00 target price on shares of Fifth Third Bancorp and gave the stock a “buy” rating in a report on Thursday, September 20th. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 26th. ValuEngine lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. BidaskClub lowered shares of Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. Finally, Morgan Stanley lowered their target price on shares of Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 18th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $32.69.
About Fifth Third Bancorp
Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.
See Also: Using the New Google Finance Tool
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).
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.