Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 346,050 shares of the financial services provider’s stock after purchasing an additional 1,100 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Fifth Third Bancorp were worth $8,983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in Fifth Third Bancorp by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 57,242,180 shares of the financial services provider’s stock valued at $1,453,952,000 after purchasing an additional 1,608,632 shares during the last quarter. BlackRock Inc. boosted its stake in Fifth Third Bancorp by 3,239.3% during the 1st 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 during the last quarter. Sanders Capital LLC boosted its stake in Fifth Third Bancorp by 1.4% during the 1st quarter. Sanders Capital LLC now owns 13,730,238 shares of the financial services provider’s stock valued at $354,605,000 after purchasing an additional 189,300 shares during the last quarter. AQR Capital Management LLC boosted its stake in Fifth Third Bancorp by 87.1% during the 1st 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 during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Fifth Third Bancorp by 8.0% during the 1st quarter. Geode Capital Management LLC now owns 8,455,254 shares of the financial services provider’s stock valued at $214,494,000 after purchasing an additional 627,613 shares during the last quarter. Institutional investors and hedge funds own 79.58% of the company’s stock.

FITB has been the topic of several recent analyst reports. Instinet increased their target price on Fifth Third Bancorp from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Friday, June 30th. Morgan Stanley reiterated an “equal weight” rating and set a $28.00 target price (up from $26.00) on shares of Fifth Third Bancorp in a research note on Thursday, July 6th. Deutsche Bank AG reiterated a “hold” rating on shares of Fifth Third Bancorp in a research note on Monday, July 3rd. TheStreet upgraded Fifth Third Bancorp from a “c+” rating to a “b” rating in a research note on Friday, June 23rd. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fifth Third Bancorp in a research note 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. The stock presently has a consensus rating of “Hold” and an average target price of $27.14.

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

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Fifth Third Bancorp (NASDAQ FITB) opened at 26.6632 on Monday. 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 has a one year low of $19.57 and a one year high of $28.97. The company has a market capitalization of $19.64 billion, a PE ratio of 13.5140 and a beta of 1.36.

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

Fifth Third Bancorp announced that its board has approved 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 repurchase up to 67% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board 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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