Lmcg Investments LLC Decreases Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Lmcg Investments LLC lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 3.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,098 shares of the financial services provider's stock after selling 7,586 shares during the quarter. Lmcg Investments LLC's holdings in Fifth Third Bancorp were worth $8,589,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Boston Partners increased its position in shares of Fifth Third Bancorp by 6.2% during the fourth quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock valued at $597,692,000 after purchasing an additional 823,803 shares during the period. Deutsche Bank AG boosted its position in shares of Fifth Third Bancorp by 27.3% during the 4th quarter. Deutsche Bank AG now owns 2,046,701 shares of the financial services provider's stock valued at $86,535,000 after acquiring an additional 438,446 shares in the last quarter. AMJ Financial Wealth Management increased its stake in Fifth Third Bancorp by 4.2% in the fourth quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider's stock valued at $9,843,000 after acquiring an additional 9,401 shares during the period. Banco Santander S.A. acquired a new position in Fifth Third Bancorp in the fourth quarter worth about $357,000. Finally, Lockheed Martin Investment Management Co. bought a new position in Fifth Third Bancorp during the fourth quarter worth about $9,878,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FITB has been the subject of a number of recent research reports. Cowen initiated coverage on Fifth Third Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Stephens reaffirmed an "equal weight" rating and issued a $51.00 target price on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Wells Fargo & Company decreased their price target on Fifth Third Bancorp from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Truist Financial dropped their target price on shares of Fifth Third Bancorp from $52.00 to $44.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.00.

Fifth Third Bancorp Stock Down 0.4%

Shares of FITB stock traded down $0.15 during mid-day trading on Thursday, reaching $38.30. 5,911,112 shares of the company's stock traded hands, compared to its average volume of 4,519,780. The company's 50-day moving average price is $36.66 and its 200-day moving average price is $41.08. The company has a market cap of $25.56 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.42 and a beta of 0.90. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The financial services provider reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Fifth Third Bancorp had a net margin of 17.43% and a return on equity of 14.10%. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities analysts expect that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend was Monday, March 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 46.98%.

Fifth Third Bancorp Profile

Fifth 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.