LSV Asset Management Has $149.52 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

LSV Asset Management boosted its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 12.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,335,107 shares of the financial services provider’s stock after buying an additional 478,607 shares during the period. LSV Asset Management owned approximately 0.64% of Fifth Third Bancorp worth $149,518,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC raised its stake in shares of Fifth Third Bancorp by 2.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 195,754 shares of the financial services provider’s stock valued at $4,958,000 after purchasing an additional 5,372 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Fifth Third Bancorp by 7.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 130,560 shares of the financial services provider’s stock valued at $3,307,000 after purchasing an additional 9,257 shares during the last quarter. Xponance Inc. lifted its position in shares of Fifth Third Bancorp by 2.9% in the third quarter. Xponance Inc. now owns 95,033 shares of the financial services provider’s stock worth $2,407,000 after purchasing an additional 2,687 shares in the last quarter. Raymond James & Associates grew its position in Fifth Third Bancorp by 17.0% in the third quarter. Raymond James & Associates now owns 591,942 shares of the financial services provider’s stock valued at $14,994,000 after purchasing an additional 85,981 shares in the last quarter. Finally, Bailard Inc. increased its stake in Fifth Third Bancorp by 3.6% in the 3rd quarter. Bailard Inc. now owns 54,378 shares of the financial services provider’s stock valued at $1,377,000 after buying an additional 1,904 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Ratings Changes

FITB has been the subject of several analyst reports. UBS Group restated a “neutral” rating and issued a $39.00 price objective (down previously from $42.00) on shares of Fifth Third Bancorp in a report on Thursday, April 4th. Robert W. Baird reiterated a “neutral” rating and set a $32.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, April 1st. DA Davidson boosted their target price on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Royal Bank of Canada upped their target price on shares of Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $36.00 price target on shares of Fifth Third Bancorp in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus price target of $36.50.

Fifth Third Bancorp Price Performance

FITB stock traded up $0.67 during trading on Friday, reaching $37.56. 4,007,014 shares of the company were exchanged, compared to its average volume of 4,768,773. Fifth Third Bancorp has a twelve month low of $22.46 and a twelve month high of $37.77. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $25.58 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.40 and a beta of 1.24. The company has a 50-day moving average of $35.79 and a two-hundred day moving average of $32.56.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.05. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $2.08 billion. Fifth Third Bancorp had a return on equity of 16.11% and a net margin of 17.70%. During the same quarter last year, the business posted $0.78 EPS. As a group, equities analysts predict that Fifth Third Bancorp will post 3.2 earnings per share for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Wednesday, March 27th. Fifth Third Bancorp’s payout ratio is 44.44%.

Insider Activity

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $37.50, for a total value of $93,750.00. Following the sale, the executive vice president now owns 136,922 shares in the company, valued at approximately $5,134,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, COO James C. Leonard sold 26,500 shares of Fifth Third Bancorp stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the completion of the transaction, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jude Schramm sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the sale, the executive vice president now directly owns 136,922 shares in the company, valued at approximately $5,134,575. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,857 shares of company stock valued at $1,787,638. Insiders own 0.50% of the company’s stock.

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.