HL Financial Services LLC decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,981 shares of the financial services provider’s stock after selling 5,143 shares during the period. HL Financial Services LLC’s holdings in Fifth Third Bancorp were worth $1,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FITB. BlackRock Inc. raised its position in shares of Fifth Third Bancorp by 3,239.3% in the first quarter. BlackRock Inc. now owns 48,949,216 shares of the financial services provider’s stock worth $1,243,309,000 after buying an additional 47,483,352 shares during the period. Janus Capital Management LLC raised its position in shares of Fifth Third Bancorp by 622.7% in the first quarter. Janus Capital Management LLC now owns 6,555,529 shares of the financial services provider’s stock worth $166,511,000 after buying an additional 5,648,401 shares during the period. AQR Capital Management LLC raised its position in shares of Fifth Third Bancorp by 87.1% in the first quarter. AQR Capital Management LLC now owns 9,305,491 shares of the financial services provider’s stock worth $236,360,000 after buying an additional 4,332,945 shares during the period. Wells Fargo & Company MN raised its position in shares of Fifth Third Bancorp by 128.3% in the first quarter. Wells Fargo & Company MN now owns 4,898,077 shares of the financial services provider’s stock worth $124,411,000 after buying an additional 2,752,511 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Fifth Third Bancorp by 2.9% in the first quarter. Vanguard Group Inc. now owns 57,242,180 shares of the financial services provider’s stock worth $1,453,952,000 after buying an additional 1,608,632 shares during the period. Institutional investors own 80.50% of the company’s stock.

Fifth Third Bancorp (NASDAQ:FITB) opened at 27.14 on Thursday. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 13.76 and a beta of 1.37. Fifth Third Bancorp has a 52-week low of $18.94 and a 52-week high of $28.97. The company’s 50-day moving average price is $26.20 and its 200 day moving average price is $25.73.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.52 billion. Fifth Third Bancorp had a return on equity of 10.44% and a net margin of 21.83%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. Equities analysts predict that Fifth Third Bancorp will post $1.83 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.06%. The ex-dividend date was Wednesday, June 28th. Fifth Third Bancorp’s payout ratio is presently 28.43%.

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

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A number of research analysts have issued reports on FITB shares. Instinet boosted their price target on Fifth Third Bancorp from $27.00 to $28.00 and gave the stock a “neutral” rating in a research report on Friday, June 30th. Deutsche Bank AG reiterated a “hold” rating on shares of Fifth Third Bancorp in a research report on Monday, July 3rd. TheStreet upgraded Fifth Third Bancorp from a “c+” rating to a “b” rating in a research report on Friday, June 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $28.00 price target (up previously from $26.00) on shares of Fifth Third Bancorp in a research report on Thursday, July 6th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $26.50 price target on shares of Fifth Third Bancorp in a research report on Friday, May 26th. Three analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Fifth Third Bancorp presently has a consensus 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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