Comerica Bank Reduces Stake in Fifth Third Bancorp (FITB)

Comerica Bank lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 311,895 shares of the financial services provider’s stock after selling 1,141 shares during the period. Comerica Bank’s holdings in Fifth Third Bancorp were worth $8,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SRS Capital Advisors Inc. raised its holdings in shares of Fifth Third Bancorp by 82.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,080 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 487 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Fifth Third Bancorp by 2,225.3% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,765,315 shares of the financial services provider’s stock worth $75,000 after acquiring an additional 1,689,396 shares during the last quarter. 1 North Wealth Services LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth about $83,000. Legacy Bridge LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth about $97,000. Finally, Rational Advisors LLC raised its holdings in shares of Fifth Third Bancorp by 244.7% in the 3rd quarter. Rational Advisors LLC now owns 3,588 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 2,547 shares during the last quarter. Hedge funds and other institutional investors own 82.67% of the company’s stock.

Shares of FITB stock opened at $27.17 on Tuesday. Fifth Third Bancorp has a 52-week low of $22.12 and a 52-week high of $34.67. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 1.36 and a beta of 1.32.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. Fifth Third Bancorp had a net margin of 27.32% and a return on equity of 12.34%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm posted $0.48 EPS. On average, equities analysts expect that Fifth Third Bancorp will post 2.75 EPS for the current year.

A number of equities research analysts recently weighed in on the stock. Vining Sparks restated a “buy” rating and issued a $36.00 target price on shares of Fifth Third Bancorp in a report on Tuesday, January 22nd. ValuEngine upgraded shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Raymond James set a $30.00 target price on shares of Fifth Third Bancorp and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Bank of America set a $29.00 target price on shares of Fifth Third Bancorp and gave the stock a “hold” rating in a report on Wednesday, January 23rd. Finally, BidaskClub lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.13.

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Fifth Third Bancorp Profile

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

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