Charter Trust Co buys $612,988 stake in Fifth Third Bancorp (FITB)

Fifth Third Bancorp (FITB) : Charter Trust Co scooped up 17,501 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 14, 2016. The investment management firm now holds a total of 30,959 shares of Fifth Third Bancorp which is valued at $612,988.Fifth Third Bancorp makes up approximately 0.07% of Charter Trust Co’s portfolio.

Other Hedge Funds, Including , National Pension Service boosted its stake in FITB in the latest quarter, The investment management firm added 54,987 additional shares and now holds a total of 640,690 shares of Fifth Third Bancorp which is valued at $12,685,662. Fifth Third Bancorp makes up approx 0.10% of National Pension Service’s portfolio.Nisa Investment Advisors boosted its stake in FITB in the latest quarter, The investment management firm added 44,770 additional shares and now holds a total of 455,261 shares of Fifth Third Bancorp which is valued at $9,282,772. Fifth Third Bancorp makes up approx 0.12% of Nisa Investment Advisors’s portfolio. Atria Investments sold out all of its stake in FITB during the most recent quarter. The investment firm sold 10,316 shares of FITB which is valued $210,343.Carroll Financial Associates boosted its stake in FITB in the latest quarter, The investment management firm added 462 additional shares and now holds a total of 12,163 shares of Fifth Third Bancorp which is valued at $251,531. Fifth Third Bancorp makes up approx 0.04% of Carroll Financial Associates’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 $19.97 and hit $20.16 on the upside on Friday, eventually ending the session at $19.8, with a gain of 0.30% or 0.06 points. The heightened volatility saw the trading volume jump to 1,70,27,636 shares. Company has a market cap of $15,174 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 Nomura to ” Reduce” on Oct 10, 2016. Wedbush Initiated Fifth Third Bancorp on Oct 7, 2016 to “Neutral”, Price Target of the shares are set at $22.Fifth Third Bancorp was Downgraded by Jefferies to ” Hold” on Oct 7, 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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