Morgan Stanley cut its stake in Fifth Third Bancorp (NASDAQ:FITB) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,743,568 shares of the financial services provider’s stock after selling 239,557 shares during the period. Morgan Stanley’s holdings in Fifth Third Bancorp were worth $78,741,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FITB. Breogan Capital LP purchased a new position in shares of Fifth Third Bancorp during the 2nd quarter worth approximately $4,736,000. Capital Fund Management S.A. increased its stake in shares of Fifth Third Bancorp by 12,885.4% during the 2nd quarter. Capital Fund Management S.A. now owns 613,697 shares of the financial services provider’s stock worth $17,613,000 after purchasing an additional 618,497 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Fifth Third Bancorp during the 2nd quarter worth approximately $1,208,000. Lido Advisors LLC increased its stake in shares of Fifth Third Bancorp by 23.6% during the 2nd quarter. Lido Advisors LLC now owns 19,065 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 3,642 shares in the last quarter. Finally, First Republic Investment Management Inc. increased its stake in shares of Fifth Third Bancorp by 13.0% during the 2nd quarter. First Republic Investment Management Inc. now owns 42,833 shares of the financial services provider’s stock worth $1,230,000 after purchasing an additional 4,942 shares in the last quarter. 83.86% of the stock is owned by institutional investors.

FITB stock opened at $29.50 on Monday. The company has a market capitalization of $19.71 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.64 and a beta of 1.25. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Fifth Third Bancorp has a one year low of $26.98 and a one year high of $34.67.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.72 annualized dividend and a dividend yield of 2.44%. Fifth Third Bancorp’s payout ratio is 26.87%.

Several analysts have commented on the stock. Wedbush set a $34.00 target price on shares of Fifth Third Bancorp and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley lowered their target price on shares of Fifth Third Bancorp from $35.50 to $33.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 18th. BidaskClub cut shares of Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 1st. ValuEngine cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Finally, Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $32.11.

Fifth Third Bancorp Company 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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