LSV Asset Management Has $70.04 Million Holdings in Fifth Third Bancorp $FITB

LSV Asset Management trimmed its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 21.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,572,100 shares of the financial services provider’s stock after selling 433,300 shares during the period. LSV Asset Management’s holdings in Fifth Third Bancorp were worth $70,037,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Wealthquest Corp lifted its holdings in shares of Fifth Third Bancorp by 2.3% during the 3rd quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 244 shares in the last quarter. Tiemann Investment Advisors LLC lifted its stake in Fifth Third Bancorp by 3.9% in the second quarter. Tiemann Investment Advisors LLC now owns 6,700 shares of the financial services provider’s stock valued at $276,000 after buying an additional 250 shares in the last quarter. Capital Investment Advisory Services LLC boosted its holdings in shares of Fifth Third Bancorp by 1.1% in the third quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 251 shares during the period. CENTRAL TRUST Co increased its position in shares of Fifth Third Bancorp by 4.1% during the second quarter. CENTRAL TRUST Co now owns 6,620 shares of the financial services provider’s stock worth $272,000 after acquiring an additional 260 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of Fifth Third Bancorp by 11.9% during the second quarter. Harbour Investments Inc. now owns 2,481 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 263 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FITB shares. DA Davidson upped their target price on shares of Fifth Third Bancorp from $52.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Evercore upped their price objective on Fifth Third Bancorp from $52.00 to $57.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Truist Financial increased their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Royal Bank Of Canada boosted their target price on Fifth Third Bancorp from $52.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Finally, Weiss Ratings downgraded Fifth Third Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Sixteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.58.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ FITB opened at $53.16 on Friday. The stock has a 50 day moving average price of $49.51 and a 200 day moving average price of $45.51. Fifth Third Bancorp has a 52 week low of $32.25 and a 52 week high of $55.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market capitalization of $35.14 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.10 and a beta of 0.99.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.91 earnings per share for the quarter. The firm had revenue of $3.82 billion for the quarter. Fifth Third Bancorp had a return on equity of 13.53% and a net margin of 19.50%. Analysts predict that Fifth Third Bancorp will post 3.68 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is 45.20%.

Insider Buying and Selling

In other news, EVP Jude Schramm sold 2,250 shares of Fifth Third Bancorp stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $48.50, for a total value of $109,125.00. Following the completion of the transaction, the executive vice president owned 129,191 shares of the company’s stock, valued at $6,265,763.50. This trade represents a 1.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

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.