Latest Stocks: Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Fifth Third Bancorp (FITB)

Latest Stocks: Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Fifth Third Bancorp (FITB)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Fifth Third Bancorp (NASDAQ:FITB) by 31.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 187,559 shares of the financial services provider’s stock after selling 87,580 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Fifth Third Bancorp were worth $4,764,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Focused Wealth Management Inc acquired a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $119,000. Quadrant Capital Group LLC boosted its position in Fifth Third Bancorp by 7.1% in the first quarter. Quadrant Capital Group LLC now owns 5,581 shares of the financial services provider’s stock valued at $138,000 after buying an additional 370 shares during the period. Virtus Investment Advisers Inc. acquired a new position in Fifth Third Bancorp during the third quarter valued at approximately $128,000. ARP Americas LLC acquired a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $208,000. Finally, HighPoint Advisor Group LLC acquired a new position in Fifth Third Bancorp during the third quarter valued at approximately $200,000. Institutional investors and hedge funds own 81.97% of the company’s stock.

Fifth Third Bancorp (NASDAQ FITB) opened at 23.70 on Tuesday. The company has a 50-day moving average price of $24.46 and a 200-day moving average price of $25.97. The company has a market capitalization of $17.78 billion, a price-to-earnings ratio of 12.40 and a beta of 1.29. Fifth Third Bancorp has a one year low of $16.14 and a one year high of $28.97.

Several research firms recently commented on FITB. BMO Capital Markets reiterated a “hold” rating and issued a $27.00 price target on shares of Fifth Third Bancorp in a research note on Friday, May 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $26.50 price target on shares of Fifth Third Bancorp in a research note on Friday, May 26th. TheStreet cut Fifth Third Bancorp from a “b” rating to a “c+” rating in a research note on Friday, May 26th. Royal Bank of Canada restated a “buy” rating and set a $28.00 price objective on shares of Fifth Third Bancorp in a research note on Thursday, May 18th. Finally, Robert W. Baird upgraded Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $24.00 price objective on the stock in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.80. In other news, CAO Teresa J. Tanner sold 54,984 shares of Fifth Third Bancorp stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $24.88, for a total value of $1,368,001.92. Following the completion of the transaction, the chief accounting officer now owns 41,286 shares in the company, valued at $1,027,195.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Teresa J. Tanner sold 26,010 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $24.90, for a total transaction of $647,649.00. Following the completion of the sale, the chief accounting officer now directly owns 41,286 shares of the company’s stock, valued at approximately $1,028,021.40. The disclosure for this sale can be found here. Insiders sold 109,315 shares of company stock valued at $2,716,947 in the last quarter. 0.99% of the stock is currently owned by corporate insiders.

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