Alps Advisors Inc. Trims Holdings in Fifth Third Bancorp (FITB)

Alps Advisors Inc. reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 9.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,520 shares of the financial services provider’s stock after selling 1,830 shares during the period. Alps Advisors Inc.’s holdings in Fifth Third Bancorp were worth $442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in Fifth Third Bancorp by 4.1% in the third quarter. Legal & General Group Plc now owns 3,362,439 shares of the financial services provider’s stock valued at $93,883,000 after purchasing an additional 131,059 shares during the last quarter. Federated Investors Inc. PA increased its holdings in Fifth Third Bancorp by 10.4% in the third quarter. Federated Investors Inc. PA now owns 962,990 shares of the financial services provider’s stock valued at $26,887,000 after purchasing an additional 90,487 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in Fifth Third Bancorp by 17.3% in the fourth quarter. Gateway Investment Advisers LLC now owns 138,102 shares of the financial services provider’s stock valued at $3,250,000 after purchasing an additional 20,366 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in Fifth Third Bancorp by 716.7% in the fourth quarter. First Citizens Bank & Trust Co. now owns 110,511 shares of the financial services provider’s stock valued at $2,600,000 after purchasing an additional 96,979 shares during the last quarter. Finally, Oakbrook Investments LLC increased its holdings in Fifth Third Bancorp by 63.7% in the fourth quarter. Oakbrook Investments LLC now owns 63,820 shares of the financial services provider’s stock valued at $1,502,000 after purchasing an additional 24,834 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Shares of NASDAQ FITB opened at $27.08 on Tuesday. Fifth Third Bancorp has a 52 week low of $22.12 and a 52 week high of $34.67. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. The company has a market cap of $18.18 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.30 and a beta of 1.36.



Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Fifth Third Bancorp had a return on equity of 11.77% and a net margin of 26.80%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. As a group, equities research analysts anticipate that Fifth Third Bancorp will post 2.77 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.88 annualized dividend and a yield of 3.25%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 34.65%.

A number of research analysts have issued reports on the company. BidaskClub raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Zacks Investment Research cut Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. BMO Capital Markets boosted their target price on Fifth Third Bancorp from $30.00 to $33.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. They noted that the move was a valuation call. UBS Group boosted their target price on Fifth Third Bancorp from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Finally, Barclays boosted their target price on Fifth Third Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. Fifth Third Bancorp currently has an average rating of “Hold” and a consensus price target of $31.67.

In related news, EVP Frank R. Forrest sold 26,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $26.37, for a total transaction of $685,620.00. Following the completion of the transaction, the executive vice president now directly owns 62,974 shares of the company’s stock, valued at $1,660,624.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Teresa J. Tanner sold 55,600 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $27.47, for a total value of $1,527,332.00. The disclosure for this sale can be found here. Insiders have sold 84,727 shares of company stock valued at $2,302,901 over the last three months. Insiders own 0.40% of the company’s stock.

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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.

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

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