Healthcare of Ontario Pension Plan Trust Fund Increases Position in Fifth Third Bancorp (NASDAQ:FITB)

Healthcare of Ontario Pension Plan Trust Fund increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the financial services provider’s stock after purchasing an additional 19,723 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.05% of Fifth Third Bancorp worth $14,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its holdings in Fifth Third Bancorp by 29.9% during the 2nd quarter. FMR LLC now owns 11,800,528 shares of the financial services provider’s stock valued at $451,134,000 after acquiring an additional 2,719,663 shares in the last quarter. Boston Partners increased its holdings in Fifth Third Bancorp by 7.3% during the 2nd quarter. Boston Partners now owns 23,147,419 shares of the financial services provider’s stock valued at $884,782,000 after acquiring an additional 1,582,056 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in Fifth Third Bancorp by 12.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 11,137,444 shares of the financial services provider’s stock valued at $425,785,000 after acquiring an additional 1,239,269 shares in the last quarter. Nordea Investment Management AB increased its holdings in Fifth Third Bancorp by 100.5% during the 3rd quarter. Nordea Investment Management AB now owns 2,162,020 shares of the financial services provider’s stock valued at $93,312,000 after acquiring an additional 1,083,582 shares in the last quarter. Finally, Amundi purchased a new position in Fifth Third Bancorp during the 2nd quarter valued at about $38,246,000. Institutional investors and hedge funds own 81.02% of the company’s stock.

FITB opened at $50.45 on Friday. The company’s 50 day simple moving average is $44.47 and its 200 day simple moving average is $41.48. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.86 and a current ratio of 0.89. Fifth Third Bancorp has a 1 year low of $28.25 and a 1 year high of $50.50. The stock has a market capitalization of $34.50 billion, a PE ratio of 13.94, a P/E/G ratio of 1.78 and a beta of 1.42.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Monday, October 18th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Fifth Third Bancorp had a net margin of 32.49% and a return on equity of 13.35%. During the same period in the previous year, the company posted $0.85 earnings per share. As a group, sell-side analysts expect that Fifth Third Bancorp will post 3.76 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 18th. Stockholders of record on Friday, December 31st will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, December 30th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.38%. Fifth Third Bancorp’s dividend payout ratio is currently 33.15%.

Several equities analysts have weighed in on FITB shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Fifth Third Bancorp in a report on Friday, December 17th. Barclays raised their price target on shares of Fifth Third Bancorp from $51.00 to $53.00 in a research note on Monday, January 3rd. JPMorgan Chase & Co. raised their price target on shares of Fifth Third Bancorp from $45.50 to $48.00 in a research note on Thursday, January 6th. Argus raised their price target on shares of Fifth Third Bancorp from $42.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, October 20th. Finally, Royal Bank of Canada raised their price target on shares of Fifth Third Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 20th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $47.25.

In other news, EVP Kristine R. Garrett sold 10,740 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 25th. The shares were sold at an average price of $45.61, for a total transaction of $489,851.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Howard Hammond sold 4,000 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $43.79, for a total transaction of $175,160.00. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp engages in the provision of banking & financial services, retail & commercial banking, consumer lending services, and investment advisory services through its subsidiary Fifth Third Bank. It operates through the following segments: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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