LVW Advisors LLC Reduces Position in Fifth Third Bancorp (NASDAQ:FITB)

LVW Advisors LLC trimmed its stake in Fifth Third Bancorp (NASDAQ:FITB) by 4.8% in the 4th quarter, HoldingsChannel reports. The firm owned 15,360 shares of the financial services provider’s stock after selling 768 shares during the period. LVW Advisors LLC’s holdings in Fifth Third Bancorp were worth $649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its position in Fifth Third Bancorp by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after buying an additional 732,651 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Fifth Third Bancorp by 4.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock worth $371,837,000 after acquiring an additional 399,827 shares in the last quarter. Franklin Resources Inc. raised its stake in Fifth Third Bancorp by 8.1% during the 3rd quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after acquiring an additional 409,292 shares during the period. Smead Capital Management Inc. lifted its holdings in Fifth Third Bancorp by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock valued at $95,278,000 after purchasing an additional 75,024 shares in the last quarter. Finally, Zacks Investment Management boosted its position in shares of Fifth Third Bancorp by 10.0% in the third quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock worth $74,450,000 after purchasing an additional 158,067 shares during the period. 83.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup raised their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler boosted their price objective on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Morgan Stanley increased their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Keefe, Bruyette & Woods boosted their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Evercore ISI increased their price objective on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Fifth Third Bancorp has an average rating of “Hold” and a consensus target price of $45.92.

Fifth Third Bancorp Price Performance

Shares of Fifth Third Bancorp stock opened at $44.34 on Tuesday. The stock has a market cap of $29.73 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.79 and a beta of 1.24. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average price of $45.02 and a 200-day moving average price of $42.90. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that Fifth Third Bancorp will post 3.31 EPS for the current year.

Fifth Third Bancorp Announces Dividend

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

Insider Buying and Selling

In other news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total transaction of $327,525.00. Following the completion of the sale, the executive vice president now directly owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

Fifth Third Bancorp Company 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.