Schwab Charles Investment Management Inc. raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 3.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,445,806 shares of the financial services provider’s stock after buying an additional 89,286 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Fifth Third Bancorp were worth $62,124,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Brown Advisory Inc. purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $224,000. Employees Retirement System of Texas boosted its position in Fifth Third Bancorp by 40.9% in the fourth quarter. Employees Retirement System of Texas now owns 62,000 shares of the financial services provider’s stock valued at $1,672,000 after buying an additional 18,000 shares during the period. Cantab Capital Partners LLP purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $305,000. Capstone Investment Advisors LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $296,000. Finally, Envestnet Asset Management Inc. boosted its position in Fifth Third Bancorp by 1.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 96,013 shares of the financial services provider’s stock valued at $2,587,000 after buying an additional 1,689 shares during the period. 81.20% of the stock is owned by institutional investors and hedge funds.

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at 25.03 on Tuesday. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 13.09 and a beta of 1.35. The company’s 50-day moving average price is $24.57 and its 200-day moving average price is $25.89. Fifth Third Bancorp has a 52-week low of $16.14 and a 52-week high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. Fifth Third Bancorp had a net margin of 22.64% and a return on equity of 10.12%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business earned $0.40 earnings per share. Equities research analysts forecast that Fifth Third Bancorp will post $1.79 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.56 annualized dividend and a yield of 2.26%. Fifth Third Bancorp’s dividend payout ratio is currently 29.17%.

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Several research firms have commented on FITB. Zacks Investment Research raised Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Tuesday, February 28th. Robert W. Baird raised Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $24.00 price target for the company in a report on Monday, June 5th. Compass Point raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating in a report on Wednesday, March 29th. They noted that the move was a valuation call. Piper Jaffray Companies cut their price target on Fifth Third Bancorp from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, April 11th. Finally, Hilliard Lyons cut Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $27.00 price target for the company. in a report on Thursday, March 2nd. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $25.30.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 13,321 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $24.63, for a total transaction of $328,096.23. Following the completion of the transaction, the executive vice president now directly owns 71,793 shares in the company, valued at $1,768,261.59. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Teresa J. Tanner sold 54,984 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $24.88, for a total transaction of $1,368,001.92. Following the transaction, the chief accounting officer now owns 41,286 shares of the company’s stock, valued at $1,027,195.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,315 shares of company stock valued at $2,716,947. Company insiders own 0.38% of the company’s stock.

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.

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

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