Daiwa Securities Group Inc. Purchases 9,900 Shares of Fifth Third Bancorp (FITB)

Daiwa Securities Group Inc. increased its position in Fifth Third Bancorp (NASDAQ:FITB) by 39.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 34,709 shares of the financial services provider’s stock after purchasing an additional 9,900 shares during the period. Daiwa Securities Group Inc.’s holdings in Fifth Third Bancorp were worth $875,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Trust Department MB Financial Bank N A bought a new position in shares of Fifth Third Bancorp during the first quarter valued at $10,833,000. Legal & General Group Plc increased its holdings in Fifth Third Bancorp by 4.1% in the 3rd quarter. Legal & General Group Plc now owns 3,362,439 shares of the financial services provider’s stock worth $93,883,000 after buying an additional 131,059 shares in the last quarter. Sanders Capital LLC increased its holdings in Fifth Third Bancorp by 59.6% in the 4th quarter. Sanders Capital LLC now owns 17,818,885 shares of the financial services provider’s stock worth $468,179,000 after buying an additional 6,653,168 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in Fifth Third Bancorp by 0.7% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,256,200 shares of the financial services provider’s stock worth $29,558,000 after buying an additional 9,200 shares in the last quarter. Finally, Advisor Partners LLC increased its holdings in Fifth Third Bancorp by 14.4% in the 4th quarter. Advisor Partners LLC now owns 27,926 shares of the financial services provider’s stock worth $657,000 after buying an additional 3,507 shares in the last quarter. 83.87% of the stock is currently owned by institutional investors.

In other news, CAO Teresa J. Tanner sold 55,600 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $27.47, for a total transaction of $1,527,332.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frank R. Forrest sold 26,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $26.37, for a total transaction of $685,620.00. Following the sale, the executive vice president now directly owns 62,974 shares of the company’s stock, valued at approximately $1,660,624.38. The disclosure for this sale can be found here. Insiders have sold a total of 84,518 shares of company stock valued at $2,296,845 in the last ninety days. Insiders own 0.40% of the company’s stock.

Several equities research analysts recently commented on the company. Zacks Investment Research downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 26th. BidaskClub upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Barclays lifted their price objective on Fifth Third Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 24th. UBS Group lifted their price objective on Fifth Third Bancorp from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, BMO Capital Markets lifted their price objective on Fifth Third Bancorp from $30.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $31.67.

NASDAQ FITB opened at $28.98 on Friday. Fifth Third Bancorp has a 52 week low of $22.12 and a 52 week high of $34.67. The stock has a market cap of $18.80 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.35 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 (NASDAQ:FITB) last released its quarterly earnings results on Tuesday, April 23rd. The financial services provider reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.04. Fifth Third Bancorp had a net margin of 26.80% and a return on equity of 11.77%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm earned $0.57 EPS. Sell-side analysts forecast that Fifth Third Bancorp will post 2.77 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Thursday, March 28th. Fifth Third Bancorp’s payout ratio is currently 34.65%.

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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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