Formulafolio Investments Lowers stake in Fifth Third Bancorp (FITB)

Fifth Third Bancorp (FITB) : Formulafolio Investments reduced its stake in Fifth Third Bancorp by 71.56% during the most recent quarter end. The investment management company now holds a total of 27,672 shares of Fifth Third Bancorp which is valued at $532,409 after selling 69,633 shares in Fifth Third Bancorp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Fifth Third Bancorp makes up approximately 0.09% of Formulafolio Investments’s portfolio.

Other Hedge Funds, Including , Canal Capital Management reduced its stake in FITB by selling 225 shares or 0.33% in the most recent quarter. The Hedge Fund company now holds 68,330 shares of FITB which is valued at $1,314,669. Fifth Third Bancorp makes up approx 1.34% of Canal Capital Management’s portfolio.Ftb Advisors reduced its stake in FITB by selling 92 shares or 1.34% in the most recent quarter. The Hedge Fund company now holds 6,794 shares of FITB which is valued at $128,950. Fifth Third Bancorp makes up approx 0.02% of Ftb Advisors’s portfolio.1st Source Bank reduced its stake in FITB by selling 112 shares or 0.78% in the most recent quarter. The Hedge Fund company now holds 14,253 shares of FITB which is valued at $270,522. Fifth Third Bancorp makes up approx 0.03% of 1st Source Bank’s portfolio.Farmers Merchants Investments Inc boosted its stake in FITB in the latest quarter, The investment management firm added 60 additional shares and now holds a total of 103 shares of Fifth Third Bancorp which is valued at $1,894.

Fifth Third Bancorp opened for trading at $19.18 and hit $19.47 on the upside on Monday, eventually ending the session at $19.45, with a gain of 1.78% or 0.34 points. The heightened volatility saw the trading volume jump to 31,16,386 shares. Company has a market cap of $14,906 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.

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