Healthcare of Ontario Pension Plan Trust Fund Has $14.85 Million Stake in Fifth Third Bancorp (NASDAQ:FITB)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 6.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 350,000 shares of the financial services provider’s stock after purchasing an additional 19,723 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Fifth Third Bancorp were worth $14,854,000 as of its most recent SEC filing.

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

Shares of Fifth Third Bancorp stock opened at $50.45 on Friday. Fifth Third Bancorp has a one year low of $28.25 and a one year high of $50.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.89 and a quick ratio of 0.86. The stock’s 50-day moving average is $44.47 and its 200 day moving average is $41.48. The firm has a market cap of $34.50 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.78 and a beta of 1.42.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Monday, October 18th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.99 billion. Fifth Third Bancorp had a return on equity of 13.35% and a net margin of 32.49%. During the same period in the prior year, the business posted $0.85 earnings per share. On average, sell-side analysts expect that Fifth Third Bancorp will post 3.76 EPS for the current fiscal year.

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

A number of research analysts recently commented on FITB shares. Wells Fargo & Company upped their target price on Fifth Third Bancorp from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, October 4th. Morgan Stanley began coverage on Fifth Third Bancorp in a research note on Tuesday. They set an “overweight” rating and a $56.00 price objective for the company. Zacks Investment Research cut Fifth Third Bancorp from a “buy” rating to a “hold” rating and set a $52.00 target price on the stock. in a report on Friday, January 7th. Royal Bank of Canada raised their price target on Fifth Third Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, October 20th. Finally, Barclays raised their price target on Fifth Third Bancorp from $51.00 to $53.00 in a report on Monday, January 3rd. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $47.25.

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 10,740 shares of the firm’s stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $45.61, for a total transaction of $489,851.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Howard Hammond sold 4,000 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $43.79, for a total value of $175,160.00. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

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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