Lmcg Investments LLC Has $9.58 Million Position in Fifth Third Bancorp (NASDAQ:FITB)

Lmcg Investments LLC cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 1.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 226,684 shares of the financial services provider’s stock after selling 2,295 shares during the quarter. Lmcg Investments LLC’s holdings in Fifth Third Bancorp were worth $9,584,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in shares of Fifth Third Bancorp by 3.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after acquiring an additional 732,651 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Fifth Third Bancorp in the 3rd quarter valued at $28,490,000. Millennium Management LLC lifted its position in Fifth Third Bancorp by 896.7% during the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock worth $23,678,000 after buying an additional 583,781 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Fifth Third Bancorp by 76.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 1,330,649 shares of the financial services provider’s stock worth $57,005,000 after buying an additional 575,449 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Fifth Third Bancorp by 8.1% in the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock valued at $242,713,000 after acquiring an additional 409,292 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FITB. Evercore ISI upped their target price on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Citigroup upped their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Morgan Stanley lifted their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Barclays upped their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $45.92.

Fifth Third Bancorp Stock Up 2.5 %

FITB stock opened at $44.34 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.82. The business’s fifty day moving average price is $45.02 and its two-hundred day moving average price is $42.90. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07. The stock has a market capitalization of $29.73 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.93 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Fifth Third Bancorp had a return on equity of 14.58% and a net margin of 16.58%. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same period in the prior year, the company earned $0.92 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Fifth Third Bancorp will post 3.33 earnings per share for the current year.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 49.17%.

Insider Buying and Selling at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at $2,441,720.71. This represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.50% of the company’s stock.

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.