Lmcg Investments LLC Increases Stock Holdings in Fifth Third Bancorp $FITB

Lmcg Investments LLC grew its position in Fifth Third Bancorp (NASDAQ:FITB) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 219,658 shares of the financial services provider’s stock after acquiring an additional 560 shares during the quarter. Lmcg Investments LLC’s holdings in Fifth Third Bancorp were worth $9,035,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Moody National Bank Trust Division boosted its holdings in shares of Fifth Third Bancorp by 1.5% in the second quarter. Moody National Bank Trust Division now owns 18,456 shares of the financial services provider’s stock valued at $759,000 after acquiring an additional 271 shares during the period. Commerce Bank boosted its holdings in shares of Fifth Third Bancorp by 0.7% in the first quarter. Commerce Bank now owns 40,331 shares of the financial services provider’s stock valued at $1,581,000 after acquiring an additional 282 shares during the period. BankPlus Trust Department boosted its holdings in shares of Fifth Third Bancorp by 53.0% in the second quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 290 shares during the period. Orca Wealth Management LLC boosted its holdings in shares of Fifth Third Bancorp by 0.8% in the first quarter. Orca Wealth Management LLC now owns 35,296 shares of the financial services provider’s stock valued at $1,384,000 after acquiring an additional 294 shares during the period. Finally, Meadow Creek Wealth Advisors LLC boosted its holdings in shares of Fifth Third Bancorp by 3.0% in the first quarter. Meadow Creek Wealth Advisors LLC now owns 10,451 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 300 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FITB shares. Citigroup increased their price target on Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. TD Cowen increased their price target on Fifth Third Bancorp from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley set a $60.00 price target on Fifth Third Bancorp and gave the stock an “overweight” rating in a report on Tuesday. UBS Group increased their price target on Fifth Third Bancorp from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Wolfe Research increased their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.20.

Fifth Third Bancorp Price Performance

Fifth Third Bancorp stock opened at $41.47 on Friday. Fifth Third Bancorp has a one year low of $32.25 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.81 and a current ratio of 0.81. The business has a fifty day moving average of $44.23 and a two-hundred day moving average of $40.72. The company has a market cap of $27.45 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95.

Fifth Third Bancorp declared that its Board of Directors has authorized a share repurchase plan on Monday, June 16th that permits the company to repurchase 100,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a $0.40 dividend. This is an increase from Fifth Third Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, September 30th. Fifth Third Bancorp’s dividend payout ratio (DPR) is 49.69%.

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.