World Asset Management Inc Has $936,000 Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

World Asset Management Inc lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 10.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 22,053 shares of the financial services provider’s stock after selling 2,550 shares during the period. World Asset Management Inc’s holdings in Fifth Third Bancorp were worth $936,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Dark Forest Capital Management LP acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth $27,000. Sound Income Strategies LLC grew its holdings in Fifth Third Bancorp by 728.4% during the 3rd quarter. Sound Income Strategies LLC now owns 845 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 743 shares during the period. TCI Wealth Advisors Inc. grew its holdings in Fifth Third Bancorp by 35.6% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 934 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 245 shares during the period. Eubel Brady & Suttman Asset Management Inc. acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth $39,000. Finally, Evermay Wealth Management LLC acquired a new stake in Fifth Third Bancorp during the 2nd quarter worth $46,000. 81.02% of the stock is owned by hedge funds and other institutional investors.

In other Fifth Third Bancorp news, EVP Howard Hammond sold 4,000 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kristine R. Garrett sold 10,740 shares of the stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $45.61, for a total transaction of $489,851.40. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

FITB has been the subject of several research analyst reports. Stephens boosted their price target on shares of Fifth Third Bancorp from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Wednesday, October 20th. Argus boosted their price target on shares of Fifth Third Bancorp from $42.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, October 20th. JPMorgan Chase & Co. boosted their price target on shares of Fifth Third Bancorp from $45.50 to $48.00 in a report on Thursday, January 6th. Morgan Stanley initiated coverage on shares of Fifth Third Bancorp in a report on Tuesday. They issued an “overweight” rating and a $56.00 price target for the company. Finally, Barclays boosted their price target on shares of Fifth Third Bancorp from $51.00 to $53.00 in a report on Monday, January 3rd. Eight investment 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’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $47.25.

Shares of FITB stock opened at $50.45 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.86 and a current ratio of 0.89. The firm’s 50-day moving average is $44.47 and its 200-day moving average is $41.48. The stock 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 has a 52-week low of $28.25 and a 52-week high of $50.50.

Fifth Third Bancorp (NASDAQ:FITB) last issued its earnings results on Monday, October 18th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. The company 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 prior year, the firm earned $0.85 EPS. Sell-side analysts predict that Fifth Third Bancorp will post 3.76 EPS for the current fiscal year.

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

About Fifth Third Bancorp

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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