Bank of Nova Scotia lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 15.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,627 shares of the financial services provider’s stock after selling 13,346 shares during the period. Bank of Nova Scotia’s holdings in Fifth Third Bancorp were worth $2,170,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. AlphaMark Advisors LLC increased its position in Fifth Third Bancorp by 1.2% in the 2nd quarter. AlphaMark Advisors LLC now owns 137,778 shares of the financial services provider’s stock valued at $3,954,000 after acquiring an additional 1,697 shares during the period. Janney Montgomery Scott LLC increased its position in Fifth Third Bancorp by 4.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 41,948 shares of the financial services provider’s stock valued at $1,204,000 after acquiring an additional 1,746 shares during the period. HRT Financial LLC increased its position in Fifth Third Bancorp by 21.6% in the 1st quarter. HRT Financial LLC now owns 10,140 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 1,801 shares during the period. Amalgamated Bank increased its position in Fifth Third Bancorp by 2.2% in the 2nd quarter. Amalgamated Bank now owns 88,440 shares of the financial services provider’s stock valued at $2,538,000 after acquiring an additional 1,939 shares during the period. Finally, Nissay Asset Management Corp Japan ADV increased its position in Fifth Third Bancorp by 1.8% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 109,642 shares of the financial services provider’s stock valued at $3,147,000 after acquiring an additional 1,980 shares during the period. Hedge funds and other institutional investors own 83.86% of the company’s stock.

Several brokerages recently issued reports on FITB. Argus began coverage on Fifth Third Bancorp in a research report on Thursday, June 14th. They issued a “buy” rating and a $36.00 price target on the stock. Zacks Investment Research cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 26th. BidaskClub cut Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 1st. ValuEngine cut Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. Finally, UBS Group upgraded Fifth Third Bancorp from a “sell” rating to a “neutral” rating and set a $26.00 target price on the stock in a research report on Friday, July 20th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $32.11.

NASDAQ FITB opened at $28.98 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Fifth Third Bancorp has a 12-month low of $27.13 and a 12-month high of $34.67. The company has a market cap of $19.71 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.64 and a beta of 1.25.

Fifth Third Bancorp (NASDAQ:FITB) last released its earnings results on Thursday, July 19th. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Fifth Third Bancorp had a return on equity of 11.12% and a net margin of 32.86%. During the same quarter in the previous year, the firm posted $0.45 EPS. equities research analysts forecast that Fifth Third Bancorp will post 2.51 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, September 27th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 26.87%.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

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

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