Lbp Am Sa Grows Position in Fifth Third Bancorp $FITB

Lbp Am Sa increased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 242,714 shares of the financial services provider’s stock after purchasing an additional 13,954 shares during the quarter. Lbp Am Sa’s holdings in Fifth Third Bancorp were worth $11,361,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. AE Wealth Management LLC boosted its position in shares of Fifth Third Bancorp by 4.7% during the 3rd quarter. AE Wealth Management LLC now owns 348,001 shares of the financial services provider’s stock worth $15,503,000 after purchasing an additional 15,627 shares during the period. Bahl & Gaynor Inc. raised its position in Fifth Third Bancorp by 18.0% in the third quarter. Bahl & Gaynor Inc. now owns 161,369 shares of the financial services provider’s stock valued at $7,189,000 after purchasing an additional 24,566 shares during the period. Envestnet Asset Management Inc. raised its position in Fifth Third Bancorp by 2.4% in the third quarter. Envestnet Asset Management Inc. now owns 2,023,145 shares of the financial services provider’s stock valued at $90,131,000 after purchasing an additional 48,080 shares during the period. Generali Asset Management SPA SGR acquired a new position in Fifth Third Bancorp during the third quarter worth $1,314,000. Finally, Westfield Capital Management Co. LP lifted its stake in Fifth Third Bancorp by 26.6% during the third quarter. Westfield Capital Management Co. LP now owns 1,619,948 shares of the financial services provider’s stock worth $72,169,000 after purchasing an additional 340,030 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 0.6%

Shares of NASDAQ FITB opened at $49.52 on Friday. The business has a 50-day moving average of $48.75 and a two-hundred day moving average of $46.79. The company has a market capitalization of $44.84 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.02 and a beta of 0.95. Fifth Third Bancorp has a 1 year low of $32.79 and a 1 year high of $55.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.60 annualized dividend and a yield of 3.2%. Fifth Third Bancorp’s payout ratio is presently 45.20%.

Wall Street Analyst Weigh In

FITB has been the subject of a number of research reports. Jefferies Financial Group lifted their price objective on Fifth Third Bancorp from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Truist Financial lowered their target price on Fifth Third Bancorp from $60.00 to $53.00 and set a “buy” rating for the company in a report on Friday, March 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $54.00 target price (down from $57.00) on shares of Fifth Third Bancorp in a research report on Monday, March 30th. The Goldman Sachs Group began coverage on shares of Fifth Third Bancorp in a research note on Tuesday, April 7th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of Fifth Third Bancorp from $67.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Moderate Buy” and an average target price of $56.41.

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.