Airain ltd bought a new position 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 firm bought 189,631 shares of the financial services provider’s stock, valued at approximately $4,923,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FITB. Assetmark Inc. increased its position in Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after buying an additional 32 shares during the last quarter. Sterling Investment Advisors Ltd. increased its position in 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 worth $147,000 after buying an additional 1,000 shares during the last quarter. YorkBridge Wealth Partners LLC increased its position in 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 worth $142,000 after buying an additional 298 shares during the last quarter. Duncker Streett & Co. Inc. increased its position in 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 worth $168,000 after buying an additional 17 shares during the last quarter. Finally, Ullmann Financial Group Inc. acquired a new position in Fifth Third Bancorp during the first quarter worth about $167,000. Institutional investors own 79.58% of the company’s stock.

Shares of Fifth Third Bancorp (NASDAQ:FITB) opened at 26.67 on Monday. The company has a market capitalization of $19.65 billion, a PE ratio of 13.52 and a beta of 1.37. The company’s 50-day moving average price is $26.49 and its 200-day moving average price is $25.74. Fifth Third Bancorp has a 1-year low of $19.55 and a 1-year 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, beating the Zacks’ consensus estimate of $0.42 by $0.03. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. On average, equities analysts expect that Fifth Third Bancorp will post $1.82 earnings per share for the current fiscal year.

Fifth Third Bancorp declared that its board has authorized a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $1.16 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 67% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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A number of research firms have issued reports on FITB. BidaskClub downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Jefferies Group LLC restated a “hold” rating and set a $28.00 target price on shares of Fifth Third Bancorp in a research report on Friday, August 11th. Keefe, Bruyette & Woods restated a “hold” rating and set a $27.50 target price on shares of Fifth Third Bancorp in a research report on Friday, July 14th. Zacks Investment Research downgraded shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Wells Fargo & Company began coverage on shares of Fifth Third Bancorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $27.00 target price on the stock. Three analysts have rated the stock with a sell rating, nineteen have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $26.54.

In related news, EVP Frank R. Forrest sold 7,004 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $26.21, for a total transaction of $183,574.84. Following the completion of the transaction, the executive vice president now owns 71,793 shares of the company’s stock, valued at approximately $1,881,694.53. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.38% of the stock is owned by company insiders.

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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