Mason Street Advisors LLC Raises Position in Fifth Third Bancorp (FITB)

Mason Street Advisors LLC increased its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 18.8% during the first quarter, Holdings Channel reports. The fund owned 109,774 shares of the financial services provider’s stock after buying an additional 17,342 shares during the quarter. Mason Street Advisors LLC’s holdings in Fifth Third Bancorp were worth $2,769,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Trust Department MB Financial Bank N A acquired a new position in Fifth Third Bancorp during the 1st quarter worth about $10,833,000. Legal & General Group Plc lifted its holdings in Fifth Third Bancorp by 4.1% during 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 during the period. Sanders Capital LLC lifted its holdings in Fifth Third Bancorp by 59.6% during 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 during the period. Lord Abbett & CO. LLC lifted its holdings in Fifth Third Bancorp by 0.7% during 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 during the period. Finally, Advisor Partners LLC lifted its holdings in Fifth Third Bancorp by 14.4% during 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 during the period. Institutional investors and hedge funds own 84.28% of the company’s stock.

In related news, CAO Teresa J. Tanner sold 55,600 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $27.47, for a total transaction of $1,527,332.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Teresa J. Tanner sold 2,918 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was 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. Insiders sold a total of 84,727 shares of company stock worth $2,302,901 over the last three months. 0.40% of the stock is owned by company insiders.

Shares of NASDAQ:FITB opened at $27.42 on Wednesday. The stock has a market capitalization of $20.03 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.27 and a beta of 1.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89. Fifth Third Bancorp has a 1 year low of $22.12 and a 1 year high of $32.16.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.57 EPS. On average, equities research analysts forecast that Fifth Third Bancorp will post 2.77 EPS for the current fiscal year.

Several research analysts have commented on the company. Keefe, Bruyette & Woods raised Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a report on Thursday, April 4th. Barclays lifted their target price 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 target price on Fifth Third Bancorp from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Zacks Investment Research downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Finally, ValuEngine downgraded Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.67.

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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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