Raymond James Trust N.A. cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,284 shares of the financial services provider’s stock after selling 1,518 shares during the period. Raymond James Trust N.A.’s holdings in Fifth Third Bancorp were worth $422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Stephens Inc. AR increased its position in shares of Fifth Third Bancorp by 59.4% during the second quarter. Stephens Inc. AR now owns 15,873 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 5,918 shares during the period. Capital Fund Management S.A. increased its position in shares of Fifth Third Bancorp by 69.8% during the second quarter. Capital Fund Management S.A. now owns 321,226 shares of the financial services provider’s stock valued at $8,339,000 after purchasing an additional 132,047 shares during the period. Aberdeen Asset Management PLC UK increased its position in shares of Fifth Third Bancorp by 12.0% during the second quarter. Aberdeen Asset Management PLC UK now owns 317,689 shares of the financial services provider’s stock valued at $8,247,000 after purchasing an additional 33,960 shares during the period. HPM Partners LLC increased its position in shares of Fifth Third Bancorp by 40.0% during the second quarter. HPM Partners LLC now owns 14,873 shares of the financial services provider’s stock valued at $603,000 after purchasing an additional 4,249 shares during the period. Finally, Twin Tree Management LP increased its position in shares of Fifth Third Bancorp by 1,292.7% during the second quarter. Twin Tree Management LP now owns 81,293 shares of the financial services provider’s stock valued at $2,110,000 after purchasing an additional 88,109 shares during the period. Institutional investors and hedge funds own 79.60% of the company’s stock.

A number of analysts have recently issued reports on FITB shares. TheStreet upgraded Fifth Third Bancorp from a “c+” rating to a “b” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a research report on Thursday, July 27th. BidaskClub upgraded Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Morgan Stanley restated an “equal weight” rating and set a $28.00 price objective (up from $26.00) on shares of Fifth Third Bancorp in a research report on Thursday, July 6th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Fifth Third Bancorp in a research report on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and three have given a buy rating to the company’s stock. Fifth Third Bancorp has an average rating of “Hold” and a consensus price target of $27.14.

Shares of Fifth Third Bancorp (NASDAQ FITB) opened at 26.52 on Friday. Fifth Third Bancorp has a 52 week low of $19.57 and a 52 week high of $28.97. The firm has a market cap of $19.54 billion, a price-to-earnings ratio of 13.44 and a beta of 1.36. The company has a 50-day moving average price of $26.45 and a 200 day moving average price of $25.63.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 EPS for the quarter, topping 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 firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company earned $0.40 EPS. The company’s revenue was up .1% on a year-over-year basis. Analysts expect that Fifth Third Bancorp will post $1.83 EPS for the current fiscal year.

Fifth Third Bancorp declared that its Board of Directors has initiated a stock 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 buy up to 67% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 7,004 shares of the firm’s stock in a transaction 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 transaction, 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 filing with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

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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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