November 29, 2016 - By Nellie Frank
An insider of the company Fifth Third Bancorp, Timothy Spence also its EVP & CSO, disclosed his well-informed sell activities with the Security Exchange Commission on 28/11/2016. As published in the document, Timothy had sold 4,000 shares of the ‘s company. The total insider trading trade was worth $104,840 U.S. Dollars. At the time of the sale the price of a share was $26.2. He also sold 25,000 shares with value $578,750 USD in the last month. This sell decreased his ownership of the Company to 0.02% market cap or 175,749 shares.
Out of 26 analysts covering Fifth Third (NASDAQ:FITB), 5 rate it a “Buy”, 2 “Sell”, while 19 “Hold”. This means 19% are positive. $25 is the highest target while $16 is the lowest. The $21.38 average target is -15.76% below today’s ($25.38) stock price. Fifth Third has been the topic of 46 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was downgraded on Friday, October 2 by Goldman Sachs. The firm earned “Buy” rating on Monday, October 24 by UBS. The firm has “Underperform” rating given on Wednesday, November 16 by Robert W. Baird. The company was upgraded on Friday, September 16 by Rafferty. The stock has “Market Perform” rating given by BMO Capital Markets on Tuesday, April 5. RBC Capital Markets maintained Fifth Third Bancorp (NASDAQ:FITB) on Friday, January 22 with “Outperform” rating. Oppenheimer maintained the stock with “Outperform” rating in Tuesday, October 6 report. The stock has “Hold” rating given by Jefferies on Friday, October 7. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, October 21 report. The stock of Fifth Third Bancorp (NASDAQ:FITB) has “Outperform” rating given on Friday, January 22 by Oppenheimer.
Insitutional Activity: The institutional sentiment decreased to 0.69 in Q2 2016. Its down 0.19, from 0.88 in 2016Q1. The ratio worsened, as 45 funds sold all Fifth Third Bancorp shares owned while 206 reduced positions. 47 funds bought stakes while 174 increased positions. They now own 598.84 million shares or 1.34% less from 606.99 million shares in 2016Q1.
Citigroup Inc has invested 0.01% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB). Perkins Investment Ltd Company last reported 1% of its portfolio in the stock. Beck Mack & Oliver Limited Liability Corp reported 13,500 shares or 0.01% of all its holdings. Invesco Limited has 39.85M shares for 0.26% of their US portfolio. Denver Investment Advsrs Lc holds 0.07% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB) for 88,440 shares. Martin Currie Ltd owns 200,400 shares or 0.34% of their US portfolio. Moreover, At Financial Bank has 0.03% invested in Fifth Third Bancorp (NASDAQ:FITB) for 10,893 shares. Moreover, Blackrock Lc has 0.04% invested in Fifth Third Bancorp (NASDAQ:FITB) for 1.72 million shares. Dimensional Fund Advisors L P last reported 9.45 million shares in the company. Lsv Asset Mngmt reported 10.67 million shares or 0.38% of all its holdings. Eaton Vance owns 1.56 million shares or 0.08% of their US portfolio. Cullinan owns 80,540 shares or 0.12% of their US portfolio. Fragasso Grp Inc reported 56,866 shares or 0.37% of all its holdings. Berkshire Asset Mgmt Ltd Liability Corporation Pa, a Pennsylvania-based fund reported 21,781 shares. Bowling Mngmt Llc has invested 0.3% of its portfolio in Fifth Third Bancorp (NASDAQ:FITB).
Insider Transactions: Since November 10, 2016, the stock had 0 buys, and 8 insider sales for $4.20 million net activity. Shares for $578,750 were sold by Spence Timothy on Thursday, November 10. Another trade for 17,689 shares valued at $414,807 was sold by CARMICHAEL GREG D. Forrest Frank R. sold $430,547 worth of Fifth Third Bancorp (NASDAQ:FITB) on Thursday, November 10. 29,777 shares were sold by McHugh Philip, worth $764,673. Tanner Teresa J. also sold $82,701 worth of Fifth Third Bancorp (NASDAQ:FITB) shares. $510,355 worth of Fifth Third Bancorp (NASDAQ:FITB) was sold by Leonard James C. 20,898 Fifth Third Bancorp (NASDAQ:FITB) shares with value of $496,341 were sold by Borton Chad M.
The stock decreased 2.91% or $0.76 during the last trading session, hitting $25.38. About 9.96M shares traded hands or 10.91% up from the average. Fifth Third Bancorp (NASDAQ:FITB) has risen 41.07% since April 25, 2016 and is uptrending. It has outperformed by 35.05% the S&P500.
Fifth Third Bancorp is a bank holding firm and a financial holding company. The company has a market cap of $19.07 billion. The Firm 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. It has a 11.31 P/E ratio. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors.
According to Zacks Investment Research, “Fifth Third Bancorp is a registered financial holding company and a multi-bank holding company. They engage primarily in commercial, retail and trust banking, data processing services, investment advisory services and leasing activities. In addition, the company provides credit life, accident, health and mortgage insurance, discount brokerage services and property management for its properties.”
Analysts await Fifth Third Bancorp (NASDAQ:FITB) to report earnings on January, 19. They expect $0.43 EPS, up 4.88% or $0.02 from last year’s $0.41 per share. FITB’s profit will be $323.09M for 14.76 P/E if the $0.43 EPS becomes a reality. After $0.65 actual EPS reported by Fifth Third Bancorp for the previous quarter, Wall Street now forecasts -33.85% negative EPS growth.
More important recent Fifth Third Bancorp (NASDAQ:FITB) news were published by: Businesswire.com which released: “Fifth Third Bancorp Announces Net Exercise of Vantiv Warrant and Associated ..” on November 22, 2016, also Nasdaq.com published article titled: “Fifth Third Bancorp Reaches Analyst Target Price”, Nasdaq.com published: “Strategy To YieldBoost Fifth Third Bancorp From 2% To 12.9% Using Options” on November 22, 2016. More interesting news about Fifth Third Bancorp (NASDAQ:FITB) was released by: Nasdaq.com and their article: “The Zacks Analyst Blog Highlights: Wells Fargo, Bank of America, Fifth Third ..” with publication date: November 28, 2016.
Fifth Third Bancorp, incorporated on October 7, 1974, is a bank holding firm and a financial holding company. The Firm 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. The Firm operates through four divisions: Commercial Banking, Branch Banking, Consumer Lending and Investment Advisors. The Firm diversifies its loan and lease portfolio by offering a range of loan and lease products with various payment terms and rate structures. It offers commercial and industrial loans, commercial mortgage loans, commercial construction loans, commercial leases, residential mortgage loans, home equity, automobile loans, credit card, and other consumer loans and leases. The Firm offers various types of deposits, such as demand deposits, interest checking deposits, savings deposits, money market deposits, transaction deposits and other time deposits. The Company’s total deposits are approximately $103 billion. The Company’s total loans are approximately $93 billion.
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By Nellie Frank