Stratos Wealth Partners LTD. raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 13.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 15,091 shares of the financial services provider’s stock after buying an additional 1,786 shares during the period. Stratos Wealth Partners LTD.’s holdings in Fifth Third Bancorp were worth $392,000 as of its most recent SEC filing.

Other hedge funds have also 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 in 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 in 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 in 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 in the last quarter. Finally, Duncker Streett & Co. Inc. boosted its stake in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock valued at $168,000 after buying an additional 17 shares in the last quarter. 80.50% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp (NASDAQ FITB) opened at 27.03 on Tuesday. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 13.70 and a beta of 1.37. The firm has a 50-day moving average of $25.93 and a 200 day moving average of $25.68. Fifth Third Bancorp has a 52 week low of $18.93 and a 52 week high of $28.97.

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

Fifth Third Bancorp declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that allows the company to repurchase $1.16 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 67% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Wednesday, June 28th. Fifth Third Bancorp’s payout ratio is 28.43%.

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Several analysts have recently issued reports on the stock. BMO Capital Markets reissued a “market perform” rating and set a $28.00 price target (up previously from $27.00) on shares of Fifth Third Bancorp in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BidaskClub raised shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods reissued a “hold” rating and set a $27.50 price target on shares of Fifth Third Bancorp in a research report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $28.00 price target on shares of Fifth Third Bancorp in a research report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $26.51.

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.

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

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