Hancock Holding Co. raised its stake in Fifth Third Bancorp (NASDAQ:FITB) by 0.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 590,694 shares of the financial services provider’s stock after purchasing an additional 1,316 shares during the period. Fifth Third Bancorp accounts for approximately 0.6% of Hancock Holding Co.’s holdings, making the stock its 24th biggest holding. Hancock Holding Co. owned 0.08% of Fifth Third Bancorp worth $15,335,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FITB. BlackRock Inc. increased its position in shares of Fifth Third Bancorp by 3,239.3% in the 1st quarter. BlackRock Inc. now owns 48,949,216 shares of the financial services provider’s stock worth $1,243,309,000 after purchasing an additional 47,483,352 shares during the last quarter. Janus Capital Management LLC increased its position in shares of Fifth Third Bancorp by 622.7% in the 1st quarter. Janus Capital Management LLC now owns 6,555,529 shares of the financial services provider’s stock worth $166,511,000 after purchasing an additional 5,648,401 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Fifth Third Bancorp by 87.1% in the 1st quarter. AQR Capital Management LLC now owns 9,305,491 shares of the financial services provider’s stock worth $236,360,000 after purchasing an additional 4,332,945 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Fifth Third Bancorp by 97.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,382,624 shares of the financial services provider’s stock worth $87,813,000 after purchasing an additional 1,670,055 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Fifth Third Bancorp by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 57,242,180 shares of the financial services provider’s stock worth $1,453,952,000 after purchasing an additional 1,608,632 shares during the last quarter. 79.58% of the stock is owned by institutional investors.

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In other Fifth Third Bancorp news, EVP Frank R. Forrest sold 7,004 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $26.21, for a total value of $183,574.84. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.38% of the company’s stock.

Several equities research analysts have recently weighed in on the stock. 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. Robert W. Baird raised shares of Fifth Third Bancorp from an “underperform” rating to a “neutral” rating and set a $24.00 target price for the company in a research report on Monday, June 5th. 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 reissued a “hold” rating and issued a $28.00 target price on shares of Fifth Third Bancorp in a research report on Friday, July 14th. Finally, Oppenheimer Holdings, Inc. reissued 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 assigned a hold rating and two have issued a buy rating to the company. Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $27.38.

Fifth Third Bancorp (FITB) traded down 0.84% on Friday, reaching $27.31. 4,658,375 shares of the company’s stock were exchanged. Fifth Third Bancorp has a 12 month low of $19.57 and a 12 month high of $28.97. The firm has a market capitalization of $20.12 billion, a price-to-earnings ratio of 13.84 and a beta of 1.36. The firm has a 50-day moving average of $26.47 and a 200-day moving average of $25.59.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.14. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 28.43%.

Fifth Third Bancorp declared that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.

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

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