Lbp Am Sa Raises Stock Position in Fifth Third Bancorp $FITB

Lbp Am Sa grew its stake in Fifth Third Bancorp (NASDAQ:FITB) by 6.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 242,714 shares of the financial services provider’s stock after purchasing an additional 13,954 shares during the period. Lbp Am Sa’s holdings in Fifth Third Bancorp were worth $11,361,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Austin Private Wealth LLC raised its stake in Fifth Third Bancorp by 2.7% during the 4th quarter. Austin Private Wealth LLC now owns 8,686 shares of the financial services provider’s stock worth $407,000 after acquiring an additional 228 shares in the last quarter. Wealthquest Corp boosted its stake in Fifth Third Bancorp by 2.3% in the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 244 shares in the last quarter. Capital Investment Advisory Services LLC grew its holdings in shares of Fifth Third Bancorp by 1.1% during the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 251 shares during the last quarter. Foster & Motley Inc. increased its position in shares of Fifth Third Bancorp by 1.7% during the third quarter. Foster & Motley Inc. now owns 15,981 shares of the financial services provider’s stock worth $712,000 after purchasing an additional 265 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Fifth Third Bancorp by 17.9% during the third quarter. Trust Co. of Vermont now owns 1,761 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 267 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Trading Down 0.6%

Shares of FITB stock opened at $49.52 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The business’s fifty day moving average price is $48.75 and its 200 day moving average price is $46.79. Fifth Third Bancorp has a 1-year low of $32.79 and a 1-year high of $55.44. The firm has a market capitalization of $44.84 billion, a PE ratio of 13.99, a P/E/G ratio of 1.02 and a beta of 0.95.

Fifth Third Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.40 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.2%. Fifth Third Bancorp’s payout ratio is 45.20%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Citigroup upped their target price on Fifth Third Bancorp from $50.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 23rd. Royal Bank Of Canada lifted their price target on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. Evercore reduced their price objective on Fifth Third Bancorp from $57.00 to $51.00 in a research note on Monday, April 6th. Morgan Stanley lowered their target price on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Fifth Third Bancorp from $50.50 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.41.

Fifth Third Bancorp Company Profile

Fifth Third Bancorp is a Cincinnati, Ohio–based bank holding company whose primary banking subsidiary operates as Fifth Third Bank. The company provides a broad range of financial services to individual consumers, small businesses, middle-market companies and large corporations. Its business mix includes retail and commercial banking, lending, payment and card services, treasury and cash management, and wealth management and investment advisory services delivered through a combination of branch locations, commercial offices and digital platforms.

On the consumer side, Fifth Third offers deposit accounts, consumer loans, mortgages, auto financing and credit card products, along with digital banking and mobile services.