Lombard Odier Asset Management Switzerland SA Has $1.36 Million Stock Position in Fifth Third Bancorp $FITB

Lombard Odier Asset Management Switzerland SA boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 173.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,208 shares of the financial services provider’s stock after purchasing an additional 18,508 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Fifth Third Bancorp were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FITB. D.A. Davidson & CO. lifted its stake in shares of Fifth Third Bancorp by 69.7% in the 1st quarter. D.A. Davidson & CO. now owns 50,783 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 20,862 shares during the period. Robinhood Asset Management LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $8,529,000. Keybank National Association OH raised its position in shares of Fifth Third Bancorp by 33.2% in the 1st quarter. Keybank National Association OH now owns 85,781 shares of the financial services provider’s stock valued at $3,985,000 after acquiring an additional 21,365 shares during the period. Geode Capital Management LLC boosted its stake in Fifth Third Bancorp by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 18,197,466 shares of the financial services provider’s stock worth $848,672,000 after acquiring an additional 96,656 shares during the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. bought a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $1,514,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 0.7%

Fifth Third Bancorp stock opened at $57.00 on Tuesday. The company has a 50 day moving average of $54.15 and a 200-day moving average of $51.03. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.59. Fifth Third Bancorp has a twelve month low of $40.04 and a twelve month high of $59.50. The stock has a market capitalization of $51.66 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90.

Fifth Third Bancorp (NASDAQ:FITB) last issued its quarterly earnings data on Friday, July 17th. The financial services provider reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.01). The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.24 billion. Fifth Third Bancorp had a return on equity of 12.39% and a net margin of 15.89%.The company’s revenue was up 45.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, equities research analysts anticipate that Fifth Third Bancorp will post 4.1 EPS for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.60 annualized dividend and a dividend yield of 2.8%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 54.61%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Argus raised shares of Fifth Third Bancorp to a “strong-buy” rating in a research report on Wednesday, July 22nd. UBS Group raised their price objective on Fifth Third Bancorp from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Citigroup lifted their target price on Fifth Third Bancorp from $53.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday. The Goldman Sachs Group boosted their target price on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, Evercore set a $60.00 price target on Fifth Third Bancorp in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Fifth Third Bancorp has an average rating of “Moderate Buy” and an average price target of $60.49.

Fifth Third Bancorp 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.