Bridgewater Associates LP Decreases Holdings in Fifth Third Bancorp (FITB)

Bridgewater Associates LP reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 83.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,089 shares of the financial services provider’s stock after selling 78,084 shares during the period. Bridgewater Associates LP’s holdings in Fifth Third Bancorp were worth $421,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Fifth Third Bancorp by 5.9% during the second quarter. BlackRock Inc. now owns 48,455,130 shares of the financial services provider’s stock worth $1,390,661,000 after buying an additional 2,718,504 shares during the period. Boston Partners boosted its position in shares of Fifth Third Bancorp by 1.0% during the second quarter. Boston Partners now owns 12,408,147 shares of the financial services provider’s stock worth $356,114,000 after buying an additional 117,763 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Fifth Third Bancorp by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 8,613,248 shares of the financial services provider’s stock worth $240,479,000 after buying an additional 212,416 shares during the period. Schroder Investment Management Group boosted its position in shares of Fifth Third Bancorp by 30.9% during the third quarter. Schroder Investment Management Group now owns 5,454,270 shares of the financial services provider’s stock worth $152,283,000 after buying an additional 1,287,708 shares during the period. Finally, Janus Henderson Group PLC boosted its position in shares of Fifth Third Bancorp by 5.1% during the third quarter. Janus Henderson Group PLC now owns 5,124,801 shares of the financial services provider’s stock worth $143,084,000 after buying an additional 249,267 shares during the period. Institutional investors own 82.15% of the company’s stock.

Several equities analysts have recently issued reports on the company. BidaskClub upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Raymond James upgraded Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Wednesday, October 31st. They noted that the move was a valuation call. Wedbush upgraded Fifth Third Bancorp from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $31.00 to $34.00 in a research report on Tuesday, September 4th. They noted that the move was a valuation call. BMO Capital Markets reduced their price objective on Fifth Third Bancorp from $32.00 to $30.00 and set a “market perform” rating for the company in a research report on Wednesday, October 24th. Finally, Piper Jaffray Companies set a $31.00 price objective on Fifth Third Bancorp and gave the stock a “hold” rating in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $32.73.



Shares of NASDAQ:FITB opened at $25.96 on Friday. Fifth Third Bancorp has a 12 month low of $24.10 and a 12 month high of $34.67. The company has a market cap of $17.10 billion, a P/E ratio of 11.05, a PEG ratio of 1.46 and a beta of 1.17. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.00.

Fifth Third Bancorp (NASDAQ:FITB) last announced its earnings results on Tuesday, October 23rd. The financial services provider reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Fifth Third Bancorp had a return on equity of 11.74% and a net margin of 28.89%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the previous year, the company earned $1.35 earnings per share. As a group, analysts anticipate that Fifth Third Bancorp will post 2.49 earnings per share for the current fiscal year.

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Fifth Third Bancorp Profile

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.

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

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