Boston Partners buys $642.1 Million stake in Fifth Third Bancorp (FITB)

Fifth Third Bancorp (FITB) : Boston Partners scooped up 1,056,205 additional shares in Fifth Third Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 37,440,767 shares of Fifth Third Bancorp which is valued at $642.1 Million.Fifth Third Bancorp makes up approximately 0.94% of Boston Partners’s portfolio.

Other Hedge Funds, Including , Tredje Ap-fonden added FITB to its portfolio by purchasing 23,280 company shares during the most recent quarter which is valued at $399,252. Fifth Third Bancorp makes up approx 0.02% of Tredje Ap-fonden’s portfolio.Capwealth Advisors reduced its stake in FITB by selling 6,796 shares or 3.94% in the most recent quarter. The Hedge Fund company now holds 165,705 shares of FITB which is valued at $2.8 Million. Fifth Third Bancorp makes up approx 0.73% of Capwealth Advisors’s portfolio. Stratos Wealth Partners Ltd. added FITB to its portfolio by purchasing 10,659 company shares during the most recent quarter which is valued at $182,802. Fifth Third Bancorp makes up approx 0.02% of Stratos Wealth Partners Ltd.’s portfolio.Diam Ltd. reduced its stake in FITB by selling 19,978 shares or 15.42% in the most recent quarter. The Hedge Fund company now holds 109,597 shares of FITB which is valued at $1.9 Million. Fifth Third Bancorp makes up approx 0.03% of Diam Ltd.’s portfolio.Tokio Marine Asset Management Co Ltd boosted its stake in FITB in the latest quarter, The investment management firm added 4,282 additional shares and now holds a total of 29,236 shares of Fifth Third Bancorp which is valued at $511,045. Fifth Third Bancorp makes up approx 0.05% of Tokio Marine Asset Management Co Ltd’s portfolio.

Fifth Third Bancorp opened for trading at $18.21 and hit $18.455 on the upside on Friday, eventually ending the session at $18.28, with a gain of 0.77% or 0.14 points. The heightened volatility saw the trading volume jump to 69,81,071 shares. Company has a market cap of $14,033,885 M.

On the company’s financial health, Fifth Third Bancorp reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.35.Analysts expectations of $ 1477.23.During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Fifth Third Bancorp. Company shares were Upgraded by Keefe Bruyette on May 16, 2016 to ” Outperform”, Firm has raised the Price Target to $ 20.50 from a previous price target of $19 .Fifth Third Bancorp was Initiated by FIG Partners to “Outperform” on May 16, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .

Fifth Third Bancorp is a bank holding company. The Company’s subsidiary Fifth Third Bank provide a range of financial products and services to the retail commercial financial governmental educational and medical sectors and credit products such as credit cards installment loans mortgage loans and leases. The Company operates in four business segments: Commercial Banking Branch Banking Consumer Lending and Investment Advisors. Commercial Banking offers credit intermediation cash management and financial services to market businesses and Government and professional customers. Branch Banking provides a range of deposit and loan and lease products to individuals and businesses through approximately 1302 Banking Centers. Consumer Lending includes its mortgage home equity automobile and other indirect lending activities. Investment Advisors provides a range of investment alternatives for individuals companies and not-for-profit organizations.

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