LVZ Inc. Invests $260,000 in Fifth Third Bancorp (NASDAQ:FITB)

LVZ Inc. bought a new position in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,535 shares of the financial services provider’s stock, valued at approximately $260,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairfield Bush & CO. boosted its holdings in shares of Fifth Third Bancorp by 1.4% in the first quarter. Fairfield Bush & CO. now owns 36,482 shares of the financial services provider’s stock worth $1,570,000 after acquiring an additional 502 shares during the period. Aviva PLC boosted its holdings in shares of Fifth Third Bancorp by 22.0% in the first quarter. Aviva PLC now owns 255,764 shares of the financial services provider’s stock worth $11,008,000 after acquiring an additional 46,064 shares during the period. Prudential PLC bought a new position in shares of Fifth Third Bancorp in the first quarter worth $754,000. Cetera Investment Advisers boosted its stake in Fifth Third Bancorp by 13.0% during the first quarter. Cetera Investment Advisers now owns 54,958 shares of the financial services provider’s stock valued at $2,365,000 after buying an additional 6,341 shares during the period. Finally, Candriam Luxembourg S.C.A. boosted its stake in Fifth Third Bancorp by 60.8% during the first quarter. Candriam Luxembourg S.C.A. now owns 121,378 shares of the financial services provider’s stock valued at $5,224,000 after buying an additional 45,910 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Fifth Third Bancorp from $29.00 to $36.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Wells Fargo & Company lifted their price objective on Fifth Third Bancorp from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Royal Bank of Canada lifted their price objective on Fifth Third Bancorp from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. The Goldman Sachs Group raised their price target on Fifth Third Bancorp from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, December 18th. Finally, Evercore ISI raised their price target on Fifth Third Bancorp from $37.00 to $40.00 and gave the company an “in-line” rating in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and an average price target of $35.50.

Read Our Latest Analysis on Fifth Third Bancorp

Fifth Third Bancorp Stock Down 0.1 %

Fifth Third Bancorp stock traded down $0.02 during trading hours on Wednesday, hitting $35.96. 786,475 shares of the stock traded hands, compared to its average volume of 5,494,620. The firm’s 50-day moving average price is $34.97 and its two-hundred day moving average price is $31.01. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.96. The company has a market cap of $24.50 billion, a PE ratio of 11.21, a PEG ratio of 1.40 and a beta of 1.27. Fifth Third Bancorp has a one year low of $22.46 and a one year high of $37.41.

Fifth Third Bancorp (NASDAQ:FITBGet Free Report) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.22. Fifth Third Bancorp had a return on equity of 16.25% and a net margin of 18.58%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the firm posted $1.04 EPS. On average, research analysts forecast that Fifth Third Bancorp will post 3.17 EPS for the current year.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $1.40 dividend on an annualized basis and a yield of 3.89%. Fifth Third Bancorp’s payout ratio is currently 43.34%.

Insider Buying and Selling

In related news, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $36.66, for a total value of $971,490.00. Following the completion of the transaction, the chief operating officer now directly owns 229,344 shares in the company, valued at approximately $8,407,751.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Fifth Third Bancorp news, EVP Jude Schramm sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $36.38, for a total transaction of $181,900.00. Following the completion of the sale, the executive vice president now directly owns 139,422 shares in the company, valued at approximately $5,072,172.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO James C. Leonard sold 26,500 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $36.66, for a total transaction of $971,490.00. Following the sale, the chief operating officer now owns 229,344 shares of the company’s stock, valued at $8,407,751.04. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

About Fifth Third Bancorp

(Free Report)

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.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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