LMR Partners LLP increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1,014.8% during the second quarter, Holdings Channel reports. The firm owned 93,584 shares of the financial services provider’s stock after buying an additional 85,189 shares during the period. LMR Partners LLP’s holdings in Fifth Third Bancorp were worth $2,430,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FITB. Janney Montgomery Scott LLC increased its position in shares of Fifth Third Bancorp by 25.5% in the first quarter. Janney Montgomery Scott LLC now owns 28,468 shares of the financial services provider’s stock valued at $723,000 after buying an additional 5,789 shares during the period. Bartlett & Co. LLC increased its position in shares of Fifth Third Bancorp by 89.7% in the first quarter. Bartlett & Co. LLC now owns 12,341 shares of the financial services provider’s stock valued at $313,000 after buying an additional 5,836 shares during the period. Glen Harbor Capital Management LLC increased its position in shares of Fifth Third Bancorp by 34.7% in the first quarter. Glen Harbor Capital Management LLC now owns 126,528 shares of the financial services provider’s stock valued at $3,214,000 after buying an additional 32,592 shares during the period. ProShare Advisors LLC increased its position in shares of Fifth Third Bancorp by 1.7% in the first quarter. ProShare Advisors LLC now owns 261,577 shares of the financial services provider’s stock valued at $6,644,000 after buying an additional 4,246 shares during the period. Finally, Diversified Trust Co increased its position in shares of Fifth Third Bancorp by 0.3% in the first quarter. Diversified Trust Co now owns 10,157 shares of the financial services provider’s stock valued at $258,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 81.26% of the company’s stock.

Fifth Third Bancorp (NASDAQ FITB) opened at 27.02 on Wednesday. Fifth Third Bancorp has a one year low of $19.33 and a one year high of $28.97. The firm has a 50-day moving average price of $26.38 and a 200-day moving average price of $25.72. The stock has a market cap of $19.91 billion, a price-to-earnings ratio of 13.69 and a beta of 1.37.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, July 21st. The financial services provider reported $0.45 earnings per share 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 in the prior year, the company posted $0.40 earnings per share. Fifth Third Bancorp’s quarterly revenue was up .1% on a year-over-year basis. On average, equities analysts predict that Fifth Third Bancorp will post $1.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.56 dividend on an annualized basis and a yield of 2.07%. Fifth Third Bancorp’s payout ratio is 28.43%.

Fifth Third Bancorp announced that its board has approved a share buyback program on Wednesday, June 28th that permits the company to buyback $1.16 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 67% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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FITB has been the topic of several research reports. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fifth Third Bancorp in a report on Saturday, July 22nd. Jefferies Group LLC reiterated a “hold” rating and issued a $28.00 price target on shares of Fifth Third Bancorp in a report on Friday, August 11th. BidaskClub upgraded Fifth Third Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Royal Bank Of Canada restated a “buy” rating and issued a $28.00 price objective on shares of Fifth Third Bancorp in a research report on Thursday, May 18th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $28.00 price objective (up previously from $26.00) on shares of Fifth Third Bancorp in a research report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.54.

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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