Thursday, 18 January, 2018

Stock that will multiply your investment: Fifth Third Bancorp (FITB)

Conrad Doyle | 27 October, 2017, 19:25

The institutional investor owned 68,947 shares of the financial services provider's stock after purchasing an additional 8,082 shares during the quarter.

Shares of Fifth Third Bancorp (FITB) traded up 1.067% during midday trading on Thursday, reaching $28.885. Scotia Capital Inc. raised its stake in shares of Fifth Third Bancorp by 7.1% in the second quarter. Meanwhile, the average 12-month price target from Wall Street analysts is now $28.39, this means that the stock is overpriced by -1.62%. BlackRock Inc. raised its holdings in Fifth Third Bancorp by 3,239.3% in the first quarter. Sanders Capital LLC raised its position in Fifth Third Bancorp by 1.4% in the 1st quarter. Nomura Holdings Inc. now owns 814,174 shares of the financial services provider's stock valued at $20,690,000 after buying an additional 712,196 shares during the last quarter. Dimensional Fund Advisors LP now owns 10,368,466 shares of the financial services provider's stock worth $269,182,000 after purchasing an additional 431,863 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in Fifth Third Bancorp by 7,461.4% in the 2nd quarter. This gauge is crucial in determining whether investors are moved toward the direction of buying more of the stock, or else doing the contradictory side and selling more of the stock. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) were released by: Businesswire.com and their article: "Fifth Third Bank Contributes $50K to Support Hurricane Relief Efforts in ..." published on October 18, 2017 as well as Seekingalpha.com's news article titled: "More on Fifth Third's Q3 beat" with publication date: October 24, 2017. 0 analysts gave its stock an Outperform rating. During last 3 month period, -0.01% of total institutional ownership has changed in the company shares.

Fifth Third Bancorp (NASDAQ:FITB) reported its EPS in the last quarter as $1.35/Share beating the analyst estimate of $0.47/Share by a difference of $0.88. The company had a trading volume of 2,038,209 shares. The company had Year Ago Sales of 1.53 Billion. The stock is now moving above its 20-Day Simple Moving Average of 2.4% with a 50-Day Simple Moving Average of 6.16 percent.

Shifting focus on performance of Fifth Third Bancorp (NASDAQ:FITB) that has shown a discernible change in trend levels over the path of recent market activity. Fifth Third Bancorp (NASDAQ:FITB) has risen 33.30% since October 26, 2016 and is uptrending. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting the Thomson Reuters' consensus estimate of $0.48. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. During the same period previous year, the company earned $0.65 earnings per share. Wedbush also issued estimates for Fifth Third Bancorp's Q2 2018 earnings at $0.49 EPS and FY2018 earnings at $2.08 EPS.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.16 per share. Sumitomo Mitsui Trust stated it has 0.09% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). This represents a $0.52 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Wednesday, September 28th.

Fifth Third Bancorp is a bank holding firm and a financial holding company. The average analysts gave this company a mean recommendation of 1.90. This repurchase authorization authorizes the financial services provider to repurchase up to 67% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued. If you are reading this news story on another website, it was stolen and reposted in violation of global copyright laws.

Investment analysts at Oppenheimer Holdings cut their FY2017 earnings per share (EPS) estimates for Fifth Third Bancorp in a report issued on Tuesday. Analysts reported that the Price Target for Fifth Third Bancorp might touch $31 high while the Average Price Target and Low price Target is $28.56 and $24 respectively.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, October 24th. Tanner Teresa J. sold $647,649 worth of Fifth Third Bancorp (NASDAQ:FITB) on Thursday, May 4.

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