Bank of Montreal Can Lowers Stock Holdings in Fifth Third Bancorp $FITB

Bank of Montreal Can reduced its stake in Fifth Third Bancorp (NASDAQ:FITBFree Report) by 7.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,469,940 shares of the financial services provider’s stock after selling 114,159 shares during the quarter. Bank of Montreal Can owned about 0.22% of Fifth Third Bancorp worth $65,486,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. Evolution Wealth Management Inc. bought a new position in Fifth Third Bancorp in the 2nd quarter worth about $26,000. Westside Investment Management Inc. raised its holdings in Fifth Third Bancorp by 100.0% in the third quarter. Westside Investment Management Inc. now owns 584 shares of the financial services provider’s stock worth $26,000 after buying an additional 292 shares during the last quarter. United Community Bank lifted its stake in shares of Fifth Third Bancorp by 581.0% in the third quarter. United Community Bank now owns 681 shares of the financial services provider’s stock worth $30,000 after buying an additional 581 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Fifth Third Bancorp in the second quarter worth approximately $48,000. Finally, Country Trust Bank purchased a new stake in shares of Fifth Third Bancorp during the second quarter valued at approximately $51,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Performance

FITB stock opened at $43.59 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $55.44. The company has a market cap of $39.47 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 0.91 and a beta of 0.96. The stock’s fifty day moving average price is $50.53 and its 200-day moving average price is $46.59.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FITB. Keefe, Bruyette & Woods boosted their price objective on shares of Fifth Third Bancorp from $53.00 to $55.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. Stephens lifted their target price on Fifth Third Bancorp from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. UBS Group restated a “buy” rating and issued a $59.00 price target on shares of Fifth Third Bancorp in a research note on Wednesday, February 4th. Argus upped their price target on Fifth Third Bancorp from $49.00 to $58.00 in a report on Thursday, January 22nd. Finally, TD Cowen reiterated a “buy” rating and issued a $60.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, February 3rd. Seventeen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.91.

Check Out Our Latest Report on FITB

Fifth Third Bancorp News Roundup

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About Fifth Third Bancorp

(Free Report)

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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