IFP Advisors Inc reduced its position in Fifth Third Bancorp (NASDAQ:FITB) by 1.7% during the second quarter, Holdings Channel reports. The firm owned 25,441 shares of the financial services provider’s stock after selling 453 shares during the period. IFP Advisors Inc’s holdings in Fifth Third Bancorp were worth $660,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in shares of Fifth Third Bancorp by 0.7% in the first quarter. Assetmark Inc. now owns 4,770 shares of the financial services provider’s stock worth $121,000 after buying an additional 32 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Fifth Third Bancorp by 7.1% in the first quarter. Quadrant Capital Group LLC now owns 5,581 shares of the financial services provider’s stock worth $138,000 after buying an additional 370 shares during the period. Sterling Investment Advisors Ltd. increased its stake in shares of Fifth Third Bancorp by 20.8% in the first quarter. Sterling Investment Advisors Ltd. now owns 5,800 shares of the financial services provider’s stock worth $147,000 after buying an additional 1,000 shares during the period. YorkBridge Wealth Partners LLC increased its stake in shares of Fifth Third Bancorp by 5.4% in the first quarter. YorkBridge Wealth Partners LLC now owns 5,816 shares of the financial services provider’s stock worth $142,000 after buying an additional 298 shares during the period. Finally, Duncker Streett & Co. Inc. increased its stake in shares of Fifth Third Bancorp by 0.3% in the second quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock worth $168,000 after buying an additional 17 shares during the period. Hedge funds and other institutional investors own 80.50% of the company’s stock.

Fifth Third Bancorp (FITB) opened at 26.11 on Friday. The firm has a market capitalization of $19.29 billion, a P/E ratio of 13.23 and a beta of 1.37. Fifth Third Bancorp has a 1-year low of $18.95 and a 1-year high of $28.97. The stock has a 50 day moving average of $26.26 and a 200-day moving average of $25.73.

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, beating the consensus estimate of $0.42 by $0.03. The business had revenue of $1.51 billion for 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 firm’s revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. On average, equities research analysts anticipate that Fifth Third Bancorp will post $1.82 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a $0.14 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $0.56 annualized dividend and a yield of 2.14%. Fifth Third Bancorp’s dividend payout ratio is currently 28.43%.

Fifth Third Bancorp announced that its board has approved a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $1.16 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 67% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

COPYRIGHT VIOLATION WARNING: “Fifth Third Bancorp (FITB) Shares Sold by IFP Advisors Inc” was first published by Watch List News and is owned by of Watch List News. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.watchlistnews.com/fifth-third-bancorp-fitb-shares-sold-by-ifp-advisors-inc/1477031.html.

FITB has been the subject of a number of recent research reports. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Fifth Third Bancorp in a research report on Saturday, July 22nd. 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 reiterated a “buy” rating and set a $28.00 price objective on shares of Fifth Third Bancorp in a research report on Thursday, May 18th. Jefferies Group LLC reiterated a “hold” rating and set a $28.00 price objective on shares of Fifth Third Bancorp in a research report on Friday, July 14th. Finally, Morgan Stanley reiterated an “equal weight” rating and set 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 analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and four have issued a buy rating to the company. Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $26.54.

About Fifth Third Bancorp

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.

Want to see what other hedge funds are holding FITB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fifth Third Bancorp (NASDAQ:FITB).

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

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.