Argyle Capital Management buys $913,850 stake in Fifth Third Bancorp (FITB)

Fifth Third Bancorp (FITB) : Argyle Capital Management scooped up 37,500 additional shares in Fifth Third Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 49,000 shares of Fifth Third Bancorp which is valued at $913,850.Fifth Third Bancorp makes up approximately 0.38% of Argyle Capital Management’s portfolio.

Other Hedge Funds, Including , Charter Trust Co boosted its stake in FITB in the latest quarter, The investment management firm added 540 additional shares and now holds a total of 13,458 shares of Fifth Third Bancorp which is valued at $247,493. Fifth Third Bancorp makes up approx 0.03% of Charter Trust Co’s portfolio.Hengehold Capital Management reduced its stake in FITB by selling 1,918 shares or 13.69% in the most recent quarter. The Hedge Fund company now holds 12,095 shares of FITB which is valued at $222,427. Fifth Third Bancorp makes up approx 0.07% of Hengehold Capital Management’s portfolio.Atria Investments reduced its stake in FITB by selling 536 shares or 4.94% in the most recent quarter. The Hedge Fund company now holds 10,316 shares of FITB which is valued at $185,069. Fifth Third Bancorp makes up approx 0.02% of Atria Investments’s portfolio.

Fifth Third Bancorp opened for trading at $18.93 and hit $19.1 on the upside on Friday, eventually ending the session at $18.98, with a gain of 0.32% or 0.06 points. The heightened volatility saw the trading volume jump to 59,67,317 shares. Company has a market cap of $14,571 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 Morgan Stanley to ” Equal-Weight” on Jul 5, 2016. Fifth Third Bancorp was Downgraded by Susquehanna to ” Neutral” on Jun 7, 2016. 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 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Fifth Third Bancorp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Fifth Third Bancorp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.