37,403 Shares in Fifth Third Bancorp (FITB) Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV purchased a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 37,403 shares of the financial services provider’s stock, valued at approximately $880,000.

A number of other institutional investors have also recently bought and sold shares of FITB. JOYN Advisors Inc. lifted its holdings in shares of Fifth Third Bancorp by 38.6% in the 4th quarter. JOYN Advisors Inc. now owns 1,722 shares of the financial services provider’s stock valued at $41,000 after buying an additional 480 shares during the period. SRS Capital Advisors Inc. lifted 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 valued at $25,000 after buying an additional 487 shares during the period. UMB Bank N A MO lifted its holdings in shares of Fifth Third Bancorp by 3.0% in the 4th quarter. UMB Bank N A MO now owns 17,881 shares of the financial services provider’s stock valued at $421,000 after buying an additional 522 shares during the period. M&T Bank Corp lifted its holdings in shares of Fifth Third Bancorp by 0.9% in the 4th quarter. M&T Bank Corp now owns 64,313 shares of the financial services provider’s stock valued at $1,513,000 after buying an additional 549 shares during the period. Finally, Morningstar Investment Services LLC lifted its holdings in shares of Fifth Third Bancorp by 5.1% in the 4th quarter. Morningstar Investment Services LLC now owns 13,078 shares of the financial services provider’s stock valued at $308,000 after buying an additional 634 shares during the period. Institutional investors and hedge funds own 83.71% of the company’s stock.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 26,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $26.37, for a total transaction of $685,620.00. Following the completion of the sale, the executive vice president now directly owns 62,974 shares in the company, valued at approximately $1,660,624.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.40% of the stock is currently owned by insiders.

NASDAQ:FITB opened at $27.73 on Wednesday. Fifth Third Bancorp has a 12 month low of $22.12 and a 12 month 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 company has a market cap of $17.60 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.26 and a beta of 1.32.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Tuesday, January 22nd. The financial services provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Fifth Third Bancorp had a return on equity of 12.34% and a net margin of 27.32%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same period in the previous year, the business earned $0.48 EPS. Equities research analysts forecast that Fifth Third Bancorp will post 2.79 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.88 annualized dividend and a yield of 3.17%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 34.65%.

Several brokerages have recently issued reports on FITB. BidaskClub raised Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Friday, March 29th. ValuEngine raised Fifth Third Bancorp from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods raised Fifth Third Bancorp from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a report on Thursday, April 4th. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Tuesday, March 12th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Fifth Third Bancorp in a report on Thursday, March 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.31.

WARNING: This article was posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://sportsperspectives.com/2019/04/17/37403-shares-in-fifth-third-bancorp-fitb-acquired-by-mercer-global-advisors-inc-adv.html.

Fifth Third Bancorp Company 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.

See Also: The risks of owning bonds

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)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.