Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Voya Investment Management LLC

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Voya Investment Management LLC raised its position in Fifth Third Bancorp (NASDAQ:FITB) by 5.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 352,927 shares of the financial services provider’s stock after purchasing an additional 16,649 shares during the period. Voya Investment Management LLC’s holdings in Fifth Third Bancorp were worth $9,663,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. FMR LLC lifted its stake in shares of Fifth Third Bancorp by 4.2% in the first quarter. FMR LLC now owns 815,594 shares of the financial services provider’s stock worth $20,569,000 after acquiring an additional 32,680 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Fifth Third Bancorp by 10.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 563,358 shares of the financial services provider’s stock valued at $14,209,000 after purchasing an additional 55,145 shares in the last quarter. NEXT Financial Group Inc raised its position in shares of Fifth Third Bancorp by 53.9% in the 2nd quarter. NEXT Financial Group Inc now owns 1,265 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 443 shares in the last quarter. AE Wealth Management LLC raised its position in shares of Fifth Third Bancorp by 26.6% in the 2nd quarter. AE Wealth Management LLC now owns 31,541 shares of the financial services provider’s stock valued at $880,000 after purchasing an additional 6,629 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in shares of Fifth Third Bancorp by 33.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 46,226 shares of the financial services provider’s stock valued at $1,290,000 after buying an additional 11,517 shares during the last quarter. 78.65% of the stock is owned by institutional investors.

Several analysts recently issued reports on the stock. Morgan Stanley cut their price target on shares of Fifth Third Bancorp from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Raymond James raised their price objective on shares of Fifth Third Bancorp from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Fifth Third Bancorp from $32.00 to $30.50 and set a “neutral” rating for the company in a report on Thursday, October 10th. Citigroup dropped their target price on shares of Fifth Third Bancorp from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, BidaskClub lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $31.43.

Shares of NASDAQ FITB opened at $29.49 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average price is $29.40 and its two-hundred day moving average price is $27.81. Fifth Third Bancorp has a 52-week low of $22.12 and a 52-week high of $30.89. The stock has a market capitalization of $20.93 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.50 and a beta of 1.40.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Tuesday, October 22nd. The financial services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.02. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. Fifth Third Bancorp had a return on equity of 11.40% and a net margin of 24.36%. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, equities research analysts expect that Fifth Third Bancorp will post 2.81 earnings per share for the current year.

In other Fifth Third Bancorp news, EVP Timothy Spence sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $27.52, for a total value of $137,600.00. Following the sale, the executive vice president now directly owns 152,672 shares in the company, valued at $4,201,533.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Philip Mchugh sold 36,382 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $30.56, for a total value of $1,111,833.92. Insiders own 0.40% of the company’s stock.

About Fifth Third Bancorp

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; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITB).

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

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