Cornerstone Investment Partners buys $936,091 stake in Fifth Third Bancorp (FITB)

Fifth Third Bancorp (FITB) : Cornerstone Investment Partners scooped up 6,271 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 13, 2016. The investment management firm now holds a total of 47,421 shares of Fifth Third Bancorp which is valued at $936,091.Fifth Third Bancorp makes up approximately 0.04% of Cornerstone Investment Partners’s portfolio.

Other Hedge Funds, Including , At Bancorp sold out all of its stake in FITB during the most recent quarter. The investment firm sold 10,893 shares of FITB which is valued $215,028. 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.Sadoff Investment Management boosted its stake in FITB in the latest quarter, The investment management firm added 25,950 additional shares and now holds a total of 1,132,998 shares of Fifth Third Bancorp which is valued at $23,441,729. Fifth Third Bancorp makes up approx 2.60% of Sadoff Investment Management’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 closed down -0.29 points or -1.40% at $20.39 with 74,07,111 shares getting traded on Tuesday. Post opening the session at $20.25, the shares hit an intraday low of $20.24 and an intraday high of $20.76 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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