American National Insurance Co. TX held its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 179,810 shares of the financial services provider’s stock at the end of the second quarter. American National Insurance Co. TX’s holdings in Fifth Third Bancorp were worth $4,668,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. Assetmark Inc. boosted its stake in shares of Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock valued at $121,000 after buying an additional 32 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of 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 last quarter. YorkBridge Wealth Partners LLC boosted its stake in shares of Fifth Third Bancorp by 5.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,816 shares of the financial services provider’s stock valued at $142,000 after buying an additional 298 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its stake in shares of Fifth Third Bancorp by 20.8% in the first quarter. Sterling Investment Advisors Ltd. now owns 5,800 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,000 shares during the last quarter. Finally, Ullmann Financial Group Inc. purchased a new stake in shares of Fifth Third Bancorp during the first quarter valued at $167,000. 80.47% of the stock is currently owned by institutional investors.

Fifth Third Bancorp (NASDAQ FITB) opened at 25.91 on Tuesday. The company has a market capitalization of $19.44 billion, a P/E ratio of 13.55 and a beta of 1.36. The stock’s 50 day moving average price is $24.66 and its 200-day moving average price is $25.83. Fifth Third Bancorp has a one year low of $18.16 and a one year high of $28.97.

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

Fifth Third Bancorp announced that its Board of Directors has approved a share buyback program on Wednesday, June 28th that permits the company to buyback $1.16 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 67% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.14%. Fifth Third Bancorp’s payout ratio is 29.17%.

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Several brokerages recently weighed in on FITB. Robert W. Baird raised Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $24.00 price target on the stock in a research note on Monday, June 5th. Compass Point raised Fifth Third Bancorp from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 29th. They noted that the move was a valuation call. Piper Jaffray Companies reduced their price target on Fifth Third Bancorp from $29.00 to $28.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 11th. BidaskClub cut Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $28.00 price target on shares of Fifth Third Bancorp in a research note on Friday. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have assigned a buy rating to the company. Fifth Third Bancorp presently has a consensus rating of “Hold” and an average target price of $26.24.

In other Fifth Third Bancorp news, CAO Teresa J. Tanner sold 26,010 shares of Fifth Third Bancorp stock in a transaction dated Thursday, May 4th. The stock was 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 owns 41,286 shares of the company’s stock, valued at approximately $1,028,021.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Teresa J. Tanner sold 54,984 shares of Fifth Third Bancorp stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $24.88, for a total value of $1,368,001.92. Following the sale, the chief accounting officer now directly owns 41,286 shares of the company’s stock, valued at approximately $1,027,195.68. The disclosure for this sale can be found here. Insiders sold a total of 109,315 shares of company stock valued at $2,716,947 in the last three months. 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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