Fifth Third Bancorp (FITB) Holdings Increased by Regal Investment Advisors LLC

Regal Investment Advisors LLC grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 124.5% in the first quarter, Holdings Channel reports. The institutional investor owned 28,846 shares of the financial services provider’s stock after purchasing an additional 15,995 shares during the period. Regal Investment Advisors LLC’s holdings in Fifth Third Bancorp were worth $727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Shell Asset Management Co. lifted its holdings in shares of Fifth Third Bancorp by 143.4% in the 1st quarter. Shell Asset Management Co. now owns 101,642 shares of the financial services provider’s stock valued at $2,563,000 after purchasing an additional 59,887 shares during the last quarter. Rational Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 22,236.2% in the 1st quarter. Rational Advisors LLC now owns 15,412 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 15,343 shares during the last quarter. Ironwood Investment Management LLC purchased a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at about $1,097,000. Piedmont Investment Advisors Inc. lifted its holdings in shares of Fifth Third Bancorp by 2.6% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 161,121 shares of the financial services provider’s stock valued at $4,063,000 after purchasing an additional 4,125 shares during the last quarter. Finally, Berman Capital Advisors LLC lifted its holdings in shares of Fifth Third Bancorp by 791.7% in the 1st quarter. Berman Capital Advisors LLC now owns 2,791 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 2,478 shares during the last quarter. 78.05% of the stock is owned by institutional investors.

FITB traded up $0.21 on Friday, hitting $27.23. 5,541,796 shares of the company traded hands, compared to its average volume of 7,388,086. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.84. The company has a market cap of $20.00 billion, a PE ratio of 10.72, a P/E/G ratio of 1.38 and a beta of 1.36. Fifth Third Bancorp has a 12-month low of $22.12 and a 12-month high of $32.01.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data 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 return on equity of 11.77% and a net margin of 26.80%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the business earned $0.57 EPS. As a group, sell-side analysts expect that Fifth Third Bancorp will post 2.77 EPS for the current fiscal year.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 26,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $26.37, for a total transaction of $685,620.00. Following the transaction, the executive vice president now owns 62,974 shares in the company, valued at approximately $1,660,624.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Teresa J. Tanner sold 2,918 shares of the business’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 have sold a total of 84,727 shares of company stock worth $2,302,901 in the last quarter. 0.40% of the stock is currently owned by insiders.

Several analysts have recently weighed in on the company. BidaskClub downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Sandler O’Neill raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Tuesday, March 12th. Keefe, Bruyette & Woods raised Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Thursday, April 4th. Finally, Barclays upped their price objective on Fifth Third Bancorp from $33.00 to $34.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $31.64.

WARNING: “Fifth Third Bancorp (FITB) Holdings Increased by Regal Investment Advisors LLC” was reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://www.baseballdailydigest.com/news/2019/05/25/fifth-third-bancorp-fitb-holdings-increased-by-regal-investment-advisors-llc.html.

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.

Read More: Gap Up Stocks

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).

Institutional Ownership by Quarter 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.