Invesco Ltd. increased its holdings in Fifth Third Bancorp to about $695.27 million, acquiring an additional 862,374 shares in the first quarter. The fund owned 17,736,353 shares of the financial services provider's stock after purchasing an additional 862,374 shares during the period. Invesco Ltd. owned about 2.66% of Fifth Third Bancorp worth $695,265,000 at the end of the most recent quarter.\n\nFifth Third Bancorp has approved a stock repurchase program to buy back up to 100 million shares, indicating the board's belief that the stock is undervalued. The company declared a quarterly dividend of $0.37 per share, representing an annualized dividend of $1.48 with a yield of 3.6%. The payout ratio is currently 45.96%.\n\nOther institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Fifth Third Bancorp during the 4th quarter valued at about $29,000. HWG Holdings LP bought a new position in Fifth Third Bancorp during the 1st quarter valued at about $27,000. Larson Financial Group LLC lifted its holdings in Fifth Third Bancorp by 91.3% during the 1st quarter. Larson Financial Group LLC now owns 748 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 357 shares during the last quarter. REAP Financial Group LLC lifted its holdings in Fifth Third Bancorp by 161.8% during the 4th quarter. REAP Financial Group LLC now owns 788 shares of the financial services provider's stock valued at $33,000 after purchasing an additional 487 shares during the last quarter. Finally, Grove Bank & Trust lifted its holdings in Fifth Third Bancorp by 60.7% during the 1st quarter. Grove Bank & Trust now owns 887 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 335 shares during the last quarter. 83.79% of the stock is owned by institutional investors.\n\nSeveral equities analysts recently issued reports on the stock. Truist Financial cut their price target on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a 'buy' rating for the company in a report on Tuesday, April 22nd. TD Cowen started coverage on shares of Fifth Third Bancorp in a research report on Thursday, May 15th. They issued a 'buy' rating and a $52.00 price objective for the company. Keefe, Bruyette & Woods lowered their price objective on shares of Fifth Third Bancorp from $47.00 to $42.00 and set a 'market perform' rating for the company in a research report on Monday, April 21st. Finally, Jefferies Financial Group started coverage on shares of Fifth Third Bancorp in a research report on Wednesday, May 21st. They issued a 'buy' rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of 'Moderate Buy' and an average target price of $47.80.\n\nFifth Third Bancorp shares opened at $41.64 on Friday. The company has a one year low of $32.25 and a one year high of $49.07. The company has a 50 day moving average of $41.27 and a 200-day moving average of $39.98. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $27.56 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.35 and a beta of 0.91.\n\nFifth Third Bancorp declared that its board has authorized a stock repurchase program on Monday, June 16th that permits the company to buy back 100,000,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.\n\nFifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.

Invesco Ltd. Has $695.27 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Invesco Ltd. increased its investment in Fifth Third Bancorp by acquiring 862,374 additional shares, bringing its total holdings to $695.27 million and representing approximately 2.66% of the company's equity. Fifth Third Bancorp has approved a stock repurchase program to buy back up to 100 million shares, citing the belief that the stock is undervalued. The company also declared a quarterly dividend of $0.37 per share, resulting in an annualized dividend of $1.48 with a 3.6% yield and a payout ratio of 45.96%. Institutional investors such as Quarry LP, HWG Holdings LP, Larson Financial Group LLC, REAP Financial Group LLC, and Grove Bank & Trust have also adjusted their positions in the company. Several equities analysts have issued reports, with Truist Financial, TD Cowen, Keefe, Bruyette & Woods, and Jefferies Financial Group providing buy ratings and price targets ranging from $42 to $52. The stock currently has a market cap of $27.56 billion, a P/E ratio of 12.93, and a consensus rating of 'Moderate Buy' with an average target price of $47.80.