PNC Financial Services Group Inc. increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 0.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 507,574 shares of the financial services provider’s stock after buying an additional 1,280 shares during the period. PNC Financial Services Group Inc.’s holdings in Fifth Third Bancorp were worth $12,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FITB. O Shaughnessy Asset Management LLC acquired a new position in Fifth Third Bancorp during the fourth quarter worth approximately $2,060,000. Federated Investors Inc. PA boosted its position in Fifth Third Bancorp by 8.3% in the fourth quarter. Federated Investors Inc. PA now owns 457,922 shares of the financial services provider’s stock worth $12,351,000 after buying an additional 34,937 shares in the last quarter. Baird Financial Group Inc. boosted its position in Fifth Third Bancorp by 20.0% in the fourth quarter. Baird Financial Group Inc. now owns 171,797 shares of the financial services provider’s stock worth $4,633,000 after buying an additional 28,577 shares in the last quarter. Tredje AP fonden boosted its position in Fifth Third Bancorp by 116.2% in the fourth quarter. Tredje AP fonden now owns 39,226 shares of the financial services provider’s stock worth $1,063,000 after buying an additional 21,086 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new position in Fifth Third Bancorp during the fourth quarter worth approximately $390,000. Institutional investors and hedge funds own 81.18% of the company’s stock.

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

Fifth Third Bancorp (NASDAQ FITB) traded down 0.651% during trading on Wednesday, reaching $25.165. 4,814,461 shares of the company’s stock traded hands. The stock has a market capitalization of $18.88 billion, a P/E ratio of 13.162 and a beta of 1.35. Fifth Third Bancorp has a 1-year low of $16.14 and a 1-year high of $28.97. The stock has a 50-day moving average price of $24.46 and a 200 day moving average price of $25.90.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Tuesday, April 25th. The financial services provider reported $0.38 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. Fifth Third Bancorp had a net margin of 22.64% and a return on equity of 10.12%. During the same quarter in the previous year, the firm earned $0.40 EPS. Equities research analysts expect that Fifth Third Bancorp will post $1.78 earnings per share for the current year.

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A number of research analysts recently commented on FITB shares. Compass Point upgraded Fifth Third Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, March 29th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “buy” rating and issued a $28.00 price objective on shares of Fifth Third Bancorp in a report on Thursday, May 18th. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Tuesday, February 28th. TheStreet cut Fifth Third Bancorp from a “b” rating to a “c+” rating in a report on Friday, May 26th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.50 price objective on shares of Fifth Third Bancorp in a report on Friday, May 26th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $25.30.

In other news, EVP James C. Leonard sold 15,000 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $24.88, for a total value of $373,200.00. Following the completion of the sale, the executive vice president now owns 75,927 shares of the company’s stock, valued at approximately $1,889,063.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Frank R. Forrest sold 13,321 shares of the business’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $24.63, for a total transaction of $328,096.23. Following the completion of the sale, the executive vice president now directly owns 71,793 shares of the company’s stock, valued at approximately $1,768,261.59. The disclosure for this sale can be found here. Insiders sold a total of 109,315 shares of company stock valued at $2,716,947 in the last three months. Insiders own 0.38% of the company’s stock.

About Fifth Third Bancorp

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

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