Ameriprise Financial Inc. lessened its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 31.2% during the 2nd quarter, according to its most recent disclosure with the SEC.
Northwestern Mutual Investment Management Company, LLC bolstered its position by buying 20,464 shares an increase of 13.5%.
Investors are a little more bearish on shares of Fifth Third Bancorp if you put credence in the uptick in short interest.
Fifth Third Bancorp, launched on October 7, 1974, is a bank holding company and a financial holding company. Canada Pension Plan Investment Board now owns 118,613 shares of the financial services provider's stock worth $3,013,000 after buying an additional 47,254 shares during the period. Chicago Equity Partners LLC increased its stake in shares of Fifth Third Bancorp by 21.7% during the first quarter. State of Tennessee Treasury Department now owns 276,329 shares of the financial services provider's stock worth $7,019,000 after buying an additional 41,651 shares during the last quarter. Duncker Streett & Company Inc reported 0.06% in Fifth Third Bancorp (NASDAQ:FITB). William Blair Investment Management, LLC now holds 1,476,067 shares with a value of $38,319,000. The ratio dived, as 218 institutional investors opened new and increased equity positions, while 269 trimmed and sold stakes in Third Bancorp Fifth. 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. Finally, Cornerstone Advisors Inc. raised its stake in shares of Fifth Third Bancorp by 14.2% in the 2nd quarter. Bahl & Gaynor Inc. now owns 216,759 shares of the financial services provider's stock valued at $5,846,000 after purchasing an additional 5,585 shares in the last quarter.
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Shares of Fifth Third Bancorp (NASDAQ FITB) traded up 0.47% during midday trading on Thursday, hitting $27.54. The volume of FITB witnessed a shift from 4.36 million shares, based on a 50-day average, to 5.54 million shares.
It is now trading at $27.41 a bit higher than $26.47, the stock's 50 day moving average and slightly over the 200 day moving average of $25.59. The company has a market cap of $20.29 billion, a price-to-earnings ratio of 13.96 and a beta of 1.36. Fifth Third Bancorp has a 52 week low of $19.57 and a 52 week high of $28.97. On average, equities analysts forecast that Fifth Third Bancorp will post $1.83 earnings per share for the current year. During the same quarter in the prior year, the company earned $0.40 EPS.
In a report made public this morning, Piper Jaffray reconfirmed their Hold rating on Fifth Third Bancorp (NASDAQ:FITB) shares.
Also, the company announced a periodic dividend, expected to be paid on early Mon, Oct 16th. Investors with a record date on early Fri, Sep 29th will get a dividend of $0.16 for a share. The ex-dividend date of this dividend is Thurs, Sep 28th. this indicates a $0.64 annual dividend and a payout of of 2.33%. This is an increase from Fifth Third Bancorp's previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.33%.
Fifth Third Bancorp announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $1.16 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 67% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.
Several equities analysts have recently weighed in on FITB shares. Keefe, Bruyette & Woods reaffirmed a "hold" rating and issued a $26.50 target price on shares of Fifth Third Bancorp in a research report on Friday, May 26th. TheStreet raised Fifth Third Bancorp from a "c+" rating to a "b" rating in a research note on Friday, June 23rd. Finally, Oppenheimer Holdings, Inc. reaffirmed a "hold" rating on shares of Fifth Third Bancorp in a research note on Saturday, July 22nd. The firm has "Buy" rating by RBC Capital Markets given on Thursday, July 27. Out of 29 Wall Street analysts rating Fifth Third, 5 give it "Buy", 2 "Sell" rating, while 22 recommend "Hold". Fifth Third Bancorp presently has a consensus rating of "Hold" and an average target price of $27.14. Following the sale, the executive vice president now directly owns 71,793 shares in the company, valued at $1,881,694.53. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company's stock.
Ullmann Financial Group bought a fresh position in stocks of Fifth Third Bancorp in the 1st period worth at about $167,000.