Washington Trust Bank buys $449,788 stake in Fifth Third Bancorp (FITB)

Fifth Third Bancorp (FITB) : Washington Trust Bank scooped up 79 additional shares in Fifth Third Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 4, 2016. The investment management firm now holds a total of 21,687 shares of Fifth Third Bancorp which is valued at $449,788.Fifth Third Bancorp makes up approximately 0.11% of Washington Trust Bank’s portfolio.

Other Hedge Funds, Including , Lynch Associatesin reduced its stake in FITB by selling 1,959 shares or 7.02% in the most recent quarter. The Hedge Fund company now holds 25,965 shares of FITB which is valued at $538,514. Fifth Third Bancorp makes up approx 0.24% of Lynch Associatesin’s portfolio.Cullinan Associates Inc reduced its stake in FITB by selling 2,000 shares or 2.48% in the most recent quarter. The Hedge Fund company now holds 78,540 shares of FITB which is valued at $1,628,920. Fifth Third Bancorp makes up approx 0.14% of Cullinan Associates Inc’s portfolio.

Fifth Third Bancorp opened for trading at $20.25 and hit $20.71 on the upside on Tuesday, eventually ending the session at $20.47, with a gain of 0.59% or 0.12 points. The heightened volatility saw the trading volume jump to 92,47,985 shares. Company has a market cap of $15,688 M.

On the company’s financial health, Fifth Third Bancorp reported $0.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.38.Analysts expectations of $ 1514.80.During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on Fifth Third Bancorp. Fifth Third Bancorp was Downgraded by Keefe Bruyette to ” Mkt Perform” on Oct 4, 2016. Fifth Third Bancorp was Upgraded by Rafferty to ” Buy” on Sep 16, 2016.

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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