Allianz Asset Management Ag Lowers stake in Fifth Third Bancorp (FITB)

Fifth Third Bancorp (FITB) : Allianz Asset Management Ag reduced its stake in Fifth Third Bancorp by 17.54% during the most recent quarter end. The investment management company now holds a total of 9,782,363 shares of Fifth Third Bancorp which is valued at $247,200,313 after selling 2,080,410 shares in Fifth Third Bancorp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Fifth Third Bancorp makes up approximately 0.35% of Allianz Asset Management Ag’s portfolio.

Other Hedge Funds, Including , Rdl Financial Inc boosted its stake in FITB in the latest quarter, The investment management firm added 68,665 additional shares and now holds a total of 95,959 shares of Fifth Third Bancorp which is valued at $2,202,259. Fifth Third Bancorp makes up approx 1.56% of Rdl Financial Inc’s portfolio.State Treasurer State Of Michigan boosted its stake in FITB in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 267,512 shares of Fifth Third Bancorp which is valued at $5,783,609. Fifth Third Bancorp makes up approx 0.05% of State Treasurer State Of Michigan’s portfolio.Brick Kyle Associates reduced its stake in FITB by selling 2,409 shares or 36.12% in the most recent quarter. The Hedge Fund company now holds 4,260 shares of FITB which is valued at $92,059. Fifth Third Bancorp makes up approx 0.08% of Brick Kyle Associates’s portfolio. 1st Global Advisors sold out all of its stake in FITB during the most recent quarter. The investment firm sold 10,459 shares of FITB which is valued $214,619.

Fifth Third Bancorp opened for trading at $25.43 and hit $25.75 on the upside on Monday, eventually ending the session at $25.68, with a gain of 0.98% or 0.25 points. The heightened volatility saw the trading volume jump to 56,13,626 shares. Company has a market cap of $19,370 M.

On the company’s financial health, Fifth Third Bancorp reported $0.65 EPS for the quarter, based on the information available during the earnings call on Oct 20, 2016. Analyst had a consensus estimate of $0.65.Analysts expectations of $ 1523.76.During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Fifth Third Bancorp. Company shares were Downgraded by Robert W. Baird on Nov 16, 2016 to ” Underperform”, Firm has raised the Price Target to $ 21 from a previous price target of $19 .Fifth Third Bancorp was Downgraded by Bernstein to ” Mkt Perform” on Nov 16, 2016. Company shares were Reiterated by UBS on Oct 24, 2016 to “Buy”, Firm has raised the Price Target to $ 24 from a previous price target of $21 .

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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