Heathbridge Capital Management Ltd. Lowers Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Heathbridge Capital Management Ltd. cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 20.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,900 shares of the financial services provider’s stock after selling 4,200 shares during the quarter. Fifth Third Bancorp makes up about 0.2% of Heathbridge Capital Management Ltd.’s holdings, making the stock its 20th biggest holding. Heathbridge Capital Management Ltd.’s holdings in Fifth Third Bancorp were worth $580,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MGO One Seven LLC boosted its stake in Fifth Third Bancorp by 7.0% in the 2nd quarter. MGO One Seven LLC now owns 34,752 shares of the financial services provider’s stock worth $1,268,000 after purchasing an additional 2,260 shares in the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Fifth Third Bancorp by 3.0% in the second quarter. Coldstream Capital Management Inc. now owns 21,591 shares of the financial services provider’s stock worth $788,000 after buying an additional 635 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Fifth Third Bancorp by 10.2% during the second quarter. Daiwa Securities Group Inc. now owns 74,625 shares of the financial services provider’s stock valued at $2,723,000 after buying an additional 6,889 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in Fifth Third Bancorp by 1.6% in the 2nd quarter. Royal London Asset Management Ltd. now owns 256,704 shares of the financial services provider’s stock worth $9,367,000 after acquiring an additional 4,101 shares during the last quarter. Finally, LGT Fund Management Co Ltd. purchased a new stake in Fifth Third Bancorp during the 2nd quarter valued at $219,000. 83.79% of the stock is currently owned by institutional investors.

Insider Transactions at Fifth Third Bancorp

In related news, EVP Jude Schramm sold 20,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now directly owns 114,422 shares of the company’s stock, valued at $4,805,724. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 20,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $42.00, for a total transaction of $840,000.00. Following the completion of the transaction, the executive vice president now owns 114,422 shares of the company’s stock, valued at approximately $4,805,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the sale, the director now directly owns 20,961 shares in the company, valued at $863,802.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,500 shares of company stock valued at $2,269,920. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Jefferies Financial Group upped their target price on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Morgan Stanley lifted their price target on shares of Fifth Third Bancorp from $40.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Wolfe Research upgraded shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a report on Friday, May 31st. Finally, Bank of America increased their price target on Fifth Third Bancorp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.56.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $41.12 on Thursday. The stock has a market cap of $28.13 billion, a PE ratio of 13.05, a P/E/G ratio of 1.91 and a beta of 1.22. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.95. The business’s 50-day simple moving average is $40.39 and its two-hundred day simple moving average is $37.76. Fifth Third Bancorp has a 52 week low of $22.49 and a 52 week high of $42.91.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Fifth Third Bancorp had a return on equity of 15.79% and a net margin of 17.41%. The business had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the prior year, the firm posted $0.87 earnings per share. As a group, analysts forecast that Fifth Third Bancorp will post 3.3 EPS for the current fiscal year.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.