Westpac Banking Corp increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 29.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,091 shares of the financial services provider’s stock after buying an additional 10,160 shares during the period. Westpac Banking Corp’s holdings in Fifth Third Bancorp were worth $776,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Global X Management Co. LLC increased its stake in shares of Fifth Third Bancorp by 117.7% in the second quarter. Global X Management Co. LLC now owns 6,234 shares of the financial services provider’s stock worth $110,000 after buying an additional 3,371 shares during the last quarter. Acrospire Investment Management LLC bought a new stake in shares of Fifth Third Bancorp during the first quarter worth approximately $112,000. Advisory Services Network LLC increased its stake in shares of Fifth Third Bancorp by 153.2% in the second quarter. Advisory Services Network LLC now owns 6,375 shares of the financial services provider’s stock worth $112,000 after buying an additional 3,857 shares during the last quarter. Duncker Streett & Co. Inc. increased its stake in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,419 shares of the financial services provider’s stock worth $113,000 after buying an additional 20 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Fifth Third Bancorp during the first quarter worth approximately $178,000. Hedge funds and other institutional investors own 79.73% of the company’s stock.
Shares of Fifth Third Bancorp (NASDAQ:FITB) traded down 0.220% during mid-day trading on Monday, hitting $20.415. The stock had a trading volume of 517,063 shares. Fifth Third Bancorp has a 12-month low of $13.84 and a 12-month high of $21.14. The company’s 50 day moving average price is $20.08 and its 200 day moving average price is $18.49. The stock has a market cap of $15.65 billion, a P/E ratio of 9.944 and a beta of 1.33.
Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a return on equity of 9.25% and a net margin of 23.36%. During the same period in the prior year, the firm posted $0.36 earnings per share. Equities research analysts predict that Fifth Third Bancorp will post $1.60 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.52 annualized dividend and a yield of 2.54%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 25.49%.
A number of brokerages have recently commented on FITB. Jefferies Group restated a “buy” rating and issued a $19.50 target price on shares of Fifth Third Bancorp in a research note on Thursday, July 7th. Credit Agricole SA upped their target price on Fifth Third Bancorp from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, September 23rd. Nomura restated a “hold” rating on shares of Fifth Third Bancorp in a research note on Saturday, July 9th. Rafferty Capital Markets upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a research note on Friday, September 16th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $19.00 price target (down previously from $20.00) on shares of Fifth Third Bancorp in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twelve have given a buy rating to the stock. Fifth Third Bancorp presently has an average rating of “Hold” and an average target price of $20.48.
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.
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.