TD Asset Management Inc. Has $11.62 Million Stake in Fifth Third Bancorp (FITB)

TD Asset Management Inc. cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 14.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 460,723 shares of the financial services provider’s stock after selling 75,521 shares during the period. TD Asset Management Inc.’s holdings in Fifth Third Bancorp were worth $11,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FITB. Norges Bank purchased a new position in shares of Fifth Third Bancorp during the fourth quarter worth about $161,089,000. Sanders Capital LLC grew its holdings in shares of Fifth Third Bancorp by 59.6% during the fourth quarter. Sanders Capital LLC now owns 17,818,885 shares of the financial services provider’s stock worth $468,179,000 after purchasing an additional 6,653,168 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Fifth Third Bancorp by 2,225.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,765,315 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,689,396 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Fifth Third Bancorp by 11.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,601,640 shares of the financial services provider’s stock worth $225,927,000 after purchasing an additional 988,392 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Fifth Third Bancorp by 10.4% during the fourth quarter. Northern Trust Corp now owns 9,220,340 shares of the financial services provider’s stock worth $216,954,000 after purchasing an additional 868,917 shares in the last quarter. Hedge funds and other institutional investors own 81.88% of the company’s stock.

Shares of FITB opened at $27.23 on Monday. The company has a market capitalization of $20.00 billion, a price-to-earnings ratio of 10.72, a PEG ratio of 1.37 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 has a 1 year low of $22.12 and a 1 year high of $32.01.

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 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 quarter in the previous year, the company posted $0.57 earnings per share. Sell-side analysts anticipate that Fifth Third Bancorp will post 2.77 earnings per share 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 value of $685,620.00. Following the completion of the sale, the executive vice president now owns 62,974 shares in the company, valued at $1,660,624.38. The sale was disclosed in a 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 shares were 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 84,727 shares of company stock valued at $2,302,901 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Several research analysts have recently commented on FITB shares. Sandler O’Neill raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Jefferies Financial Group raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Tuesday, March 12th. BidaskClub raised Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Finally, Barclays upped their target price on Fifth Third Bancorp from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 24th. One 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 stock. The company has a consensus rating of “Hold” and a consensus target price of $31.64.

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Fifth Third Bancorp Company 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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