Fifth Third Bancorp (FITB) Position Reduced by Financial Engines Advisors L.L.C.

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Financial Engines Advisors L.L.C. lowered its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 5.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 89,141 shares of the financial services provider’s stock after selling 5,561 shares during the period. Financial Engines Advisors L.L.C.’s holdings in Fifth Third Bancorp were worth $2,248,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FITB. SRS Capital Advisors Inc. grew its stake in Fifth Third Bancorp by 82.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 487 shares during the period. Whitnell & Co. acquired a new stake in Fifth Third Bancorp during the first quarter worth approximately $28,000. Guidant Wealth Advisors acquired a new stake in Fifth Third Bancorp during the first quarter worth approximately $29,000. Mizuho Securities Co. Ltd. acquired a new stake in Fifth Third Bancorp during the first quarter worth approximately $38,000. Finally, JOYN Advisors Inc. grew its stake in Fifth Third Bancorp by 38.6% during the fourth quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 480 shares during the period. 78.05% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have commented on FITB shares. ValuEngine raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Raymond James set a $30.00 price objective on Fifth Third Bancorp and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, March 12th. BidaskClub cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Finally, Bank of America set a $29.00 price objective on Fifth Third Bancorp and gave the company a “hold” rating in a research note on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $31.64.

Shares of Fifth Third Bancorp stock opened at $27.36 on Thursday. The company has a market capitalization of $20.14 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.38 and a beta of 1.36. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. Fifth Third Bancorp has a 52 week low of $22.12 and a 52 week high of $32.01.

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

In related news, EVP Frank R. Forrest sold 26,000 shares of Fifth Third Bancorp 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 transaction, the executive vice president now 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 SEC, which can be accessed through this link. Also, CAO Teresa J. Tanner sold 2,918 shares of Fifth Third Bancorp stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $28.75, for a total value of $83,892.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,727 shares of company stock worth $2,302,901. 0.40% of the stock is owned by insiders.

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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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