Russell Investments Group Ltd. Acquires 118,177 Shares of Fifth Third Bancorp (FITB)

Russell Investments Group Ltd. grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,083,708 shares of the financial services provider’s stock after buying an additional 118,177 shares during the quarter. Russell Investments Group Ltd. owned 0.58% of Fifth Third Bancorp worth $114,232,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Duncker Streett & Co. Inc. raised its position in shares of Fifth Third Bancorp by 0.3% during the 2nd quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock valued at $168,000 after buying an additional 17 shares in the last quarter. Bollard Group LLC raised its position in Fifth Third Bancorp by 0.6% in the 2nd quarter. Bollard Group LLC now owns 17,906 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 102 shares during the period. Commerce Bank raised its position in Fifth Third Bancorp by 1.0% in the 2nd quarter. Commerce Bank now owns 16,552 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 166 shares during the period. Wesbanco Bank Inc. raised its position in Fifth Third Bancorp by 0.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 32,103 shares of the financial services provider’s stock worth $833,000 after purchasing an additional 200 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in Fifth Third Bancorp by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 46,500 shares of the financial services provider’s stock worth $1,207,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 81.45% of the company’s stock.

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A number of analysts recently weighed in on FITB shares. Zacks Investment Research raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Monday, September 25th. BidaskClub raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Deutsche Bank AG reissued a “hold” rating and issued a $27.00 price objective (up from $24.00) on shares of Fifth Third Bancorp in a research report on Tuesday, September 26th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Fifth Third Bancorp in a research report on Saturday, July 22nd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $28.00 price objective on shares of Fifth Third Bancorp in a research report on Friday, August 11th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $28.33.

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

Fifth Third Bancorp (FITB) traded down $0.15 during midday trading on Thursday, hitting $28.46. 5,481,800 shares of the stock were exchanged, compared to its average volume of 5,774,405. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.93. 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 $20,210.00, a P/E ratio of 15.89, a PEG ratio of 2.37 and a beta of 1.34.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the Zacks’ 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 the consensus estimate of $1.55 billion. During the same period last year, the firm earned $0.65 earnings per share. equities research analysts expect that Fifth Third Bancorp will post 1.8 earnings per share for the current year.

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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