Fifth Third Bancorp (NASDAQ:FITB) Experiences Lighter than Average Trading Volume

Remigio Civitarese
Settembre 22, 2017

The value of the company's investment in Fifth Third Bancorp went from $206,000 to $4,259,000 a change of $4,053,000 quarter over quarter. Assetmark has an ownership of 4,770 stocks of the financial services provider's shares valued at $121,000 following purchasing an extra 32 shares through out the quarter. Quantitative Investment Management LLC owned 0.06% of Fifth Third Bancorp at the end of the most recent reporting period. Lastly, BidaskClub lifted Fifth Third Bancorp from a "sell" recommendation to a "hold" recommendation in a analysis note on Saturday, Jun 10th. around three Brokerage firms have recommended the share with a sell recommendation, nineteen have issued a hold recommendation and around three has issued a buy recommendation to The corporation. Shares for $373,200 were sold by Leonard James C. $247,943 worth of Fifth Third Bancorp (NASDAQ:FITB) shares were sold by ANDERSON LARS C. Tanner Teresa J. had sold 26,010 shares worth $647,649. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.14. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Fifth Third Bancorp by 8.4% during the first quarter. Amalgamated Bank lifted its stake in shares of Fifth Third Bancorp by 58.0% in the 2nd quarter. LS Investment Advisors LLC increased its stake in shares of Fifth Third Bancorp by 10.8% during the first quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider's stock valued at $177,000 after purchasing an additional 847 shares during the period. The fund owned 15,873 shares of the financial services provider's stock after buying an additional 5,918 shares during the quarter.

Shares of Fifth Third Bancorp (NASDAQ FITB) traded up 0.47% during midday trading on Thursday, hitting $27.54. Valuation of the business is $20.29 B, a PE book ratio of 13.96 along with a stock beta of 1.36. Fifth Third Bancorp (NASDAQ:FITB) has risen 33.30% since September 21, 2016 and is uptrending. The firm's 50-day moving average is $26.47 and its 200-day moving average is $25.59. The stock of Fifth Third Bancorp (NASDAQ:FITB) earned "Buy" rating by Jefferies on Friday, May 27. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.42 by $0.03. Fifth Third Bancorp had a net margin of 24.42% and a return on equity of 9.04%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.52 billion. Next quarter's EPS is forecasted to be $0.52 and the next full year EPS is anticipated to be $2.04. Fifth Third Bancorp now has a average recommendation of "Hold" and an consensus price target of $27.14. This repurchase authorization permits the financial services provider to repurchase up to 67% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Additionally the company recently declared a dividend paid on Monday July 17th, 2017. Savings Bank Of Nova Scotia has invested 0.01% in Fifth Third Bancorp (NASDAQ:FITB). The ex-dividend date is Thursday, September 28th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.33%. Fifth Third Bancorp's dividend payout ratio is presently 28.43%.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 7,004 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $26.21, for a total value of $183,574.84. Following 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 Securities & Exchange Commission, which is accessible through this link.

FITB has been the topic of several research analyst reports. Finally, Zacks Investment Research lowered shares of Fifth Third Bancorp from a "buy" rating to a "hold" rating in a research note on Monday, July 31st. TheStreet lowered Fifth Third Bancorp from a "b" recommendation to a "c+" recommendation in a analysis report on Friday morning, May 26th. On Sunday, September 17 the stock rating was maintained by Piper Jaffray with "Hold". Fifth Third Bancorp presently has a consensus rating of "Hold" and an average target price of $27.14.

ILLEGAL ACTIVITY NOTICE: "Quantitative Investment Management LLC Purchases Shares of 426,200 Fifth Third Bancorp (FITB)" was posted by StockNewsTimes and is the sole property of of StockNewsTimes.

Ullmann Financial Group bought a fresh position in stocks of Fifth Third Bancorp in the 1st period worth at about $167,000. The Firm 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.

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