Candriam Luxembourg S.C.A. cut its position in Fifth Third Bancorp (NASDAQ:FITB) by 5.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 434,787 shares of the financial services provider’s stock after selling 22,779 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Fifth Third Bancorp were worth $11,288,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its position in Fifth Third Bancorp by 13.4% in the second quarter. Stratos Wealth Partners LTD. now owns 15,091 shares of the financial services provider’s stock worth $392,000 after buying an additional 1,786 shares during the period. Sei Investments Co. increased its position in Fifth Third Bancorp by 15.1% in the second quarter. Sei Investments Co. now owns 817,528 shares of the financial services provider’s stock worth $21,223,000 after buying an additional 107,240 shares during the period. Foster & Motley Inc. increased its position in Fifth Third Bancorp by 19.1% in the second quarter. Foster & Motley Inc. now owns 11,836 shares of the financial services provider’s stock worth $307,000 after buying an additional 1,900 shares during the period. River Wealth Advisors LLC increased its position in Fifth Third Bancorp by 2.1% in the second quarter. River Wealth Advisors LLC now owns 82,750 shares of the financial services provider’s stock worth $2,148,000 after buying an additional 1,726 shares during the period. Finally, JFS Wealth Advisors LLC increased its position in Fifth Third Bancorp by 15.4% in the second quarter. JFS Wealth Advisors LLC now owns 10,107 shares of the financial services provider’s stock worth $262,000 after buying an additional 1,346 shares during the period. Hedge funds and other institutional investors own 80.35% of the company’s stock.

Shares of Fifth Third Bancorp (FITB) opened at 27.18 on Friday. The company has a market capitalization of $20.08 billion, a PE ratio of 13.78 and a beta of 1.37. Fifth Third Bancorp has a 12-month low of $18.61 and a 12-month high of $28.97. The firm’s 50-day moving average price is $25.93 and its 200-day moving average price is $25.68.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. The company’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, analysts expect that Fifth Third Bancorp will post $1.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.14 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.06%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 28.43%.

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

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A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BMO Capital Markets restated a “market perform” rating and issued a $28.00 price target (up from $27.00) on shares of Fifth Third Bancorp in a research note on Tuesday, July 25th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fifth Third Bancorp in a research note on Saturday, July 22nd. BidaskClub downgraded Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $27.50 price target on shares of Fifth Third Bancorp in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.51.

About Fifth Third Bancorp

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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