Wedge Capital Management L L P NC trimmed its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 17.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,467,160 shares of the financial services provider’s stock after selling 525,322 shares during the period. Wedge Capital Management L L P NC owned approximately 0.33% of Fifth Third Bancorp worth $69,031,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FITB. Sun Life Financial INC increased its holdings in shares of Fifth Third Bancorp by 55,050.0% during the second quarter. Sun Life Financial INC now owns 5,515 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 5,505 shares during the period. Duncker Streett & Co. Inc. increased its holdings in shares of Fifth Third Bancorp by 0.3% during the second quarter. Duncker Streett & Co. Inc. now owns 6,491 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 17 shares during the period. Cornerstone Advisors Inc. increased its holdings in shares of Fifth Third Bancorp by 14.2% during the second quarter. Cornerstone Advisors Inc. now owns 6,811 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 847 shares during the period. Regentatlantic Capital LLC acquired a new position in shares of Fifth Third Bancorp during the third quarter valued at $205,000. Finally, Fulton Bank N.A. acquired a new position in shares of Fifth Third Bancorp during the second quarter valued at $221,000. 79.44% of the stock is currently owned by institutional investors.

In other news, EVP Frank R. Forrest sold 7,004 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $26.21, for a total transaction of $183,574.84. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Spence sold 15,000 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $28.86, for a total value of $432,900.00. Following the transaction, the executive vice president now directly owns 154,577 shares of the company’s stock, valued at $4,461,092.22. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

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Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. Fifth Third Bancorp had a return on equity of 9.58% and a net margin of 25.81%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the company earned $0.65 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a dividend of $0.16 per share. This is a boost from Fifth Third Bancorp’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Thursday, September 28th. Fifth Third Bancorp’s dividend payout ratio is currently 23.97%.

A number of research firms recently issued reports on FITB. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $27.50 target price on shares of Fifth Third Bancorp in a report on Friday, July 14th. BMO Capital Markets reaffirmed a “market perform” rating and set a $28.00 target price (up from $27.00) on shares of Fifth Third Bancorp in a report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Fifth Third Bancorp in a report on Tuesday, October 24th. Bank of America Corporation lifted their target price on Fifth Third Bancorp from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, BidaskClub lowered Fifth Third Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.33.

Fifth Third Bancorp 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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