Fifth Third Bancorp (NASDAQ:FITB) shares purchased by Lindbrook Capital LLC


Lindbrook Capital LLC increased its stake in Fifth Third Bancorp (NASDAQ:FITB – Get Rating) by 27.4% in the first quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The company held 2,219 shares of the financial services provider after acquiring an additional 477 shares during the period. Lindbrook Capital LLC’s holdings in Fifth Third Bancorp were worth $96,000 when it last filed with the Securities and Exchange Commission.

Other large investors have also recently changed their holdings in the company. Allspring Global Investments Holdings LLC purchased a new equity stake in Fifth Third Bancorp in Q4 for approximately $282,824,000. Norges Bank bought a new stake in shares of Fifth Third Bancorp in Q4 for a value of approximately $251,003,000. Millennium Management LLC increased its holdings of Fifth Third Bancorp stock by 5,766.7% in the 4th quarter. Millennium Management LLC now owns 1,913,415 shares of the financial services provider worth $83,329,000 after purchasing an additional 1,880,800 shares last quarter. Alliancebernstein LP increased its holdings of Fifth Third Bancorp shares by 11.2% in the fourth quarter. Alliancebernstein LP now owns 8,084,127 shares of the financial services provider worth $352,064,000 after buying an additional 811,685 shares last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Fifth Third Bancorp by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 13,353,444 shares of the financial services provider worth $580,122,000 after purchasing an additional 636,018 shares last quarter. 81.00% of the shares are held by institutional investors.

Separately, CEO Greg D. Carmichael sold 50,000 shares of the company in a trade dated Thursday, April 21. The stock was sold at an average price of $40.05, for a total transaction of $2,002,500.00. As a result of the transaction, the CEO now directly owns 644,745 shares of the company, valued at $25,822,037.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, Executive Vice President Jude Schramm sold 2,500 shares of the company in a transaction dated Tuesday, May 17. The shares were sold at an average price of $36.93, for a total value of $92,325.00. Following the transaction, the executive vice president now owns 45,844 shares of the company, valued at $1,693,018.92. The disclosure of this sale can be found here. 0.67% of the shares are currently held by company insiders.

FITB stock opened at $33.84 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt ratio of 0.60. The company has a market capitalization of $23.14 billion, a price/earnings ratio of 9.70, a P/E/G ratio of 1.12 and a beta of 1.33. Fifth Third Bancorp has a 12-month low of $32.55 and a 12-month high of $50.64. The company has a 50-day moving average of $36.65 and a two-hundred-day moving average of $42.17.

Fifth Third Bancorp (NASDAQ:FITB – Get Rating) last released quarterly earnings data on Tuesday, April 19. The financial services provider reported earnings per share (EPS) of $0.69 for the quarter, missing the consensus estimate of $0.70 ($0.01). The company posted revenue of $1.88 billion for the quarter, versus a consensus estimate of $1.94 billion. Fifth Third Bancorp achieved a return on equity of 12.99% and a net margin of 31.14%. In the same period a year earlier, the company posted earnings per share of $0.93. On average, research analysts expect Fifth Third Bancorp to post EPS of 3.68 for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15. Investors of record on Thursday, June 30 will receive a dividend of $0.30 per share. This represents an annualized dividend of $1.20 and a dividend yield of 3.55%. The ex-dividend date is Wednesday, June 29. Fifth Third Bancorp’s dividend payout ratio is currently 34.38%.

FITB has been the subject of a number of recent analyst reports. Wedbush raised its price target on Fifth Third Bancorp stock to $48.00 and gave the company an “na” rating in a Tuesday, May 17 report. Morgan Stanley downgraded shares of Fifth Third Bancorp from an “overweight” rating to an “equal weight” rating and cut its price target for the company from $56.00 to $50.00 in a report on Monday 28 march. Robert W. Baird upgraded shares of Fifth Third Bancorp from a “neutral” rating to an “outperforming” rating and set a price target of $44.00 on the stock in a Friday, June 17 report. Wolfe Research cut its price target on Fifth Third Bancorp shares from $47.00 to $37.00 and set a “peer performance” rating on the stock in a Thursday, May 26 report. Finally, Citigroup reiterated a “neutral” rating on Fifth Third Bancorp shares in a Thursday, March 24 report. Seven analysts gave the stock a hold rating and nine gave the company a buy rating. According to data from MarketBeat.com, Fifth Third Bancorp has an average rating of ‘Moderate Buy’ and an average price target of $47.71.

Fifth Third Bancorp Company Profile (Get a rating)

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; loan and deposit products; and cash management, foreign exchange and trade finance, derivatives and capital markets, asset-backed lending, real estate finance, public finance, commercial leasing and syndicated finance for corporate, government and professional clients.

Read more

Want to see what other hedge funds hold FITB? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Fifth Third Bancorp (NASDAQ:FITB – Get Rating).

Institutional ownership by quarter for Fifth Third Bancorp (NASDAQ:FITB)



Get news and reviews for Fifth Third Bancorp Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Fifth Third Bancorp and related companies with MarketBeat.com’s free daily email newsletter.

Comments are closed.