Zions Bancorporation buys $1,234,258 stake in Fifth Third Bancorp (FITB)

Fifth Third Bancorp (FITB) : Zions Bancorporation scooped up 2,212 additional shares in Fifth Third Bancorp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 64,587 shares of Fifth Third Bancorp which is valued at $1,234,258.Fifth Third Bancorp makes up approximately 0.21% of Zions Bancorporation’s portfolio.

Other Hedge Funds, Including , Afam Capital reduced its stake in FITB by selling 1,548 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 225,440 shares of FITB which is valued at $4,308,158. Fifth Third Bancorp makes up approx 0.68% of Afam Capital’s portfolio.Delphi Private Advisors boosted its stake in FITB in the latest quarter, The investment management firm added 68 additional shares and now holds a total of 145 shares of Fifth Third Bancorp which is valued at $2,771.Pinebridge Investments reduced its stake in FITB by selling 506 shares or 10.45% in the most recent quarter. The Hedge Fund company now holds 4,335 shares of FITB which is valued at $82,842.

Fifth Third Bancorp closed down -0.12 points or -0.60% at $20.04 with 49,85,822 shares getting traded on Thursday. Post opening the session at $20.22, the shares hit an intraday low of $19.78 and an intraday high of $20.27 and the price fluctuated in this range throughout the day.Shares ended Thursday 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 Morgan Stanley to ” Equal-Weight” on Jul 5, 2016. Fifth Third Bancorp was Downgraded by Susquehanna to ” Neutral” on Jun 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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