Archford Capital Strategies LLC lifted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 19,333.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,328 shares of the financial services provider’s stock after purchasing an additional 9,280 shares during the period. Archford Capital Strategies LLC’s holdings in Fifth Third Bancorp were worth $1,429,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. BlackRock Inc. lifted its position in shares of Fifth Third Bancorp by 3,239.3% during the first quarter. BlackRock Inc. now owns 48,949,216 shares of the financial services provider’s stock valued at $1,243,309,000 after purchasing an additional 47,483,352 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Fifth Third Bancorp by 7,461.4% during the second quarter. Janus Henderson Group PLC now owns 7,612,026 shares of the financial services provider’s stock valued at $197,608,000 after purchasing an additional 7,511,357 shares in the last quarter. Janus Capital Management LLC lifted its position in shares of Fifth Third Bancorp by 622.7% during the first quarter. Janus Capital Management LLC now owns 6,555,529 shares of the financial services provider’s stock valued at $166,511,000 after purchasing an additional 5,648,401 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Fifth Third Bancorp by 87.1% during the first quarter. AQR Capital Management LLC now owns 9,305,491 shares of the financial services provider’s stock valued at $236,360,000 after purchasing an additional 4,332,945 shares in the last quarter. Finally, Balyasny Asset Management LLC lifted its position in shares of Fifth Third Bancorp by 265.3% during the second quarter. Balyasny Asset Management LLC now owns 3,821,186 shares of the financial services provider’s stock valued at $99,198,000 after purchasing an additional 2,775,259 shares in the last quarter. 79.58% of the stock is currently owned by institutional investors.

Several brokerages have commented on FITB. Zacks Investment Research lowered shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup Inc. reaffirmed a “neutral” rating and issued a $31.00 price objective (up previously from $28.00) on shares of Fifth Third Bancorp in a research report on Monday, October 9th. UBS AG reaffirmed a “sell” rating and issued a $26.00 price objective (up previously from $25.00) on shares of Fifth Third Bancorp in a research report on Friday, October 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $29.00 price objective on shares of Fifth Third Bancorp in a research report on Thursday, October 5th. Finally, Robert W. Baird lowered shares of Fifth Third Bancorp from a “neutral” rating to an “underperform” rating and set a $24.00 price objective on the stock. in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.13.

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Shares of Fifth Third Bancorp (NASDAQ FITB) traded down 0.32% during trading on Friday, reaching $28.06. 7,080,182 shares of the company traded hands. The company’s 50-day moving average price is $27.04 and its 200-day moving average price is $25.80. The company has a market capitalization of $20.67 billion, a P/E ratio of 14.22 and a beta of 1.37. Fifth Third Bancorp has a 52 week low of $19.57 and a 52 week high of $28.97.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Fifth Third Bancorp had a net margin of 21.83% and a return on equity of 10.44%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter last year, the business earned $0.40 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts forecast that Fifth Third Bancorp will post $1.83 EPS for the current fiscal year.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.16 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.64 dividend on an annualized basis and a yield of 2.28%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 32.49%.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 7,004 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $26.21, for a total transaction of $183,574.84. Following the sale, the executive vice president now owns 71,793 shares in the company, valued at approximately $1,881,694.53. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is currently owned by company insiders.

Fifth Third Bancorp 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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