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

Lmcg Investments LLC decreased its position in Fifth Third Bancorp (NASDAQ:FITB) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 have also modified their holdings of the company. Boston Common Asset Management LLC grew its position in shares of Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after purchasing an additional 34,203 shares during the last quarter. QRG Capital Management Inc. increased its position in Fifth Third Bancorp by 15.1% in the 3rd quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after buying an additional 9,444 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Fifth Third Bancorp by 13.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock worth $19,776,000 after acquiring an additional 55,081 shares during the period. Icon Wealth Advisors LLC acquired a new position in Fifth Third Bancorp during the 3rd quarter valued at $541,000. Finally, Nordea Investment Management AB boosted its holdings in Fifth Third Bancorp by 8.9% in the 4th quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock valued at $28,286,000 after purchasing an additional 54,463 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FITB. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Citigroup increased 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 note on Friday, November 22nd. Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. 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 report on Monday, September 30th. Finally, Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.92.

Insiders Place Their Bets

In related news, EVP Kristine R. Garrett sold 7,500 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 55,913 shares in the company, 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. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Trading Up 2.5 %

FITB stock opened at $44.34 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The company has a market cap of $29.73 billion, a P/E ratio of 14.73, a PEG ratio of 1.93 and a beta of 1.24. The business has a fifty day moving average of $45.02 and a 200-day moving average of $42.90.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $0.78 earnings per share 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 the consensus estimate of $2.16 billion. During the same period in the prior year, the firm posted $0.92 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that Fifth Third Bancorp will post 3.33 EPS for the current year.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. 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 dividend payout ratio is currently 49.17%.

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.