LSV Asset Management Has $165.02 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

LSV Asset Management increased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,434,700 shares of the financial services provider’s stock after buying an additional 99,593 shares during the period. LSV Asset Management owned 0.65% of Fifth Third Bancorp worth $165,015,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors boosted its position in shares of Fifth Third Bancorp by 34.2% in the fourth quarter. Capital World Investors now owns 41,083,928 shares of the financial services provider’s stock valued at $1,416,985,000 after acquiring an additional 10,472,392 shares during the period. Norges Bank bought a new stake in Fifth Third Bancorp in the 4th quarter valued at about $257,189,000. Smead Capital Management Inc. bought a new stake in Fifth Third Bancorp in the 4th quarter valued at about $67,354,000. Boston Partners grew its position in shares of Fifth Third Bancorp by 11.5% during the 4th quarter. Boston Partners now owns 14,575,735 shares of the financial services provider’s stock worth $502,719,000 after purchasing an additional 1,499,194 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Fifth Third Bancorp by 341.8% during the fourth quarter. KBC Group NV now owns 1,928,706 shares of the financial services provider’s stock worth $66,521,000 after purchasing an additional 1,492,124 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 0.6 %

Shares of FITB stock traded up $0.22 during mid-day trading on Friday, reaching $38.48. 3,626,253 shares of the stock traded hands, compared to its average volume of 4,851,100. The stock’s fifty day simple moving average is $36.89 and its two-hundred day simple moving average is $35.71. Fifth Third Bancorp has a 1-year low of $22.49 and a 1-year high of $39.14. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.91. The company has a market cap of $26.32 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 2.58 and a beta of 1.24.

Fifth Third Bancorp (NASDAQ:FITB) last posted its earnings results on Friday, April 19th. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $2.08 billion. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. During the same period in the previous year, the firm posted $0.78 EPS. On average, research analysts anticipate that Fifth Third Bancorp will post 3.29 EPS for the current fiscal year.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Friday, June 28th. Fifth Third Bancorp’s dividend payout ratio is currently 44.44%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Kala Gibson sold 14,857 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total transaction of $540,497.66. Following the completion of the sale, the executive vice president now owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Jude Schramm sold 2,500 shares of the business’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 transaction, the executive vice president now directly owns 136,922 shares of the company’s stock, valued at approximately $5,134,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kala Gibson sold 14,857 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $36.38, for a total value of $540,497.66. Following the sale, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of a number of analyst reports. 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. Evercore ISI decreased their price target on Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Wells Fargo & Company upped their price objective on shares of Fifth Third Bancorp from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Wolfe Research raised shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price on the stock in a report on Friday, May 31st. Finally, Jefferies Financial Group upped their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $38.15.

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.