Ajo LP increased its stake in Fifth Third Bancorp (NASDAQ:FITB) by 11.6% during the second quarter, Holdings Channel reports. The fund owned 63,342 shares of the financial services provider’s stock after buying an additional 6,608 shares during the period. Ajo LP’s holdings in Fifth Third Bancorp were worth $1,114,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FITB. Chevy Chase Trust Holdings Inc. increased its position in Fifth Third Bancorp by 0.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 662,786 shares of the financial services provider’s stock worth $11,062,000 after buying an additional 6,097 shares in the last quarter. DnB Asset Management AS increased its position in Fifth Third Bancorp by 66.0% in the first quarter. DnB Asset Management AS now owns 65,133 shares of the financial services provider’s stock worth $1,087,000 after buying an additional 25,900 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Fifth Third Bancorp by 10.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 185,424 shares of the financial services provider’s stock worth $3,095,000 after buying an additional 17,473 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its position in Fifth Third Bancorp by 7.1% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 190,698 shares of the financial services provider’s stock worth $3,183,000 after buying an additional 12,655 shares in the last quarter. Finally, PGGM Investments increased its position in Fifth Third Bancorp by 2.5% in the first quarter. PGGM Investments now owns 544,982 shares of the financial services provider’s stock worth $9,096,000 after buying an additional 13,223 shares in the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.

Shares of Fifth Third Bancorp (NASDAQ:FITB) traded up 0.654% during trading on Wednesday, hitting $20.775. 1,897,529 shares of the stock traded hands. Fifth Third Bancorp has a 52-week low of $13.84 and a 52-week high of $21.14. The firm has a market cap of $15.92 billion, a PE ratio of 10.119 and a beta of 1.27. The company’s 50 day moving average is $19.74 and its 200 day moving average is $18.30.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. Fifth Third Bancorp had a net margin of 23.36% and a return on equity of 9.25%. During the same period in the previous year, the business earned $0.36 earnings per share. On average, equities research analysts predict that Fifth Third Bancorp will post $1.60 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, September 28th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 25.49%.

A number of research analysts recently issued reports on FITB shares. Evercore ISI downgraded shares of Fifth Third Bancorp to a “hold” rating and set a $18.00 target price for the company. in a research report on Friday, July 15th. Citigroup Inc. boosted their target price on shares of Fifth Third Bancorp from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, June 6th. Deutsche Bank AG restated a “hold” rating on shares of Fifth Third Bancorp in a research report on Wednesday, June 15th. Credit Suisse Group AG restated a “sell” rating on shares of Fifth Third Bancorp in a research report on Tuesday, July 12th. Finally, Oppenheimer Holdings Inc. downgraded shares of Fifth Third Bancorp from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $20.41.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a bank holding company and a financial holding company. The Company conducts its principal lending, deposit gathering, transaction processing and service advisory activities through its banking and non-banking subsidiaries from banking centers located throughout the Midwestern and Southeastern regions of the United States.

5 Day Chart for NASDAQ:FITB

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