LVW Advisors LLC Makes New Investment in Fifth Third Bancorp (NASDAQ:FITB)

LVW Advisors LLC acquired a new position in Fifth Third Bancorp (NASDAQ:FITB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 7,364 shares of the financial services provider’s stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Dark Forest Capital Management LP purchased a new position in shares of Fifth Third Bancorp during the 3rd quarter worth about $247,000. LPL Financial LLC boosted its position in Fifth Third Bancorp by 10.1% in the 3rd quarter. LPL Financial LLC now owns 415,108 shares of the financial services provider’s stock valued at $10,515,000 after buying an additional 38,118 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Fifth Third Bancorp by 13.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 39,688 shares of the financial services provider’s stock valued at $1,005,000 after buying an additional 4,688 shares during the period. Trexquant Investment LP purchased a new stake in Fifth Third Bancorp in the 3rd quarter valued at about $755,000. Finally, Tower Research Capital LLC TRC boosted its position in Fifth Third Bancorp by 283.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 49,857 shares of the financial services provider’s stock valued at $1,263,000 after buying an additional 36,841 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird reissued a “neutral” rating and issued a $32.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, April 1st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $40.00 price target on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. UBS Group reissued a “neutral” rating and set a $39.00 target price (down previously from $42.00) on shares of Fifth Third Bancorp in a research report on Thursday, April 4th. DA Davidson increased their price target on shares of Fifth Third Bancorp from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Finally, Wolfe Research upgraded shares of Fifth Third Bancorp from a “peer perform” rating to an “outperform” rating and set a $43.00 target price for the company in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $37.26.

Insiders Place Their Bets

In other news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kala Gibson sold 14,857 shares of Fifth Third Bancorp stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $36.38, for a total value of $540,497.66. Following the transaction, the executive vice president now directly owns 46,646 shares of the company’s stock, valued at approximately $1,696,981.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jude Schramm sold 2,500 shares of Fifth Third Bancorp stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.50, for a total transaction of $93,750.00. Following the completion of the transaction, the executive vice president now directly owns 136,922 shares in the company, valued at $5,134,575. The disclosure for this sale can be found here. 0.50% of the stock is owned by corporate insiders.

Fifth Third Bancorp Stock Up 1.8 %

Shares of NASDAQ:FITB opened at $36.49 on Monday. The firm’s 50 day moving average price is $36.92 and its 200 day moving average price is $35.59. The stock has a market cap of $24.96 billion, a price-to-earnings ratio of 11.58, a price-to-earnings-growth ratio of 2.52 and a beta of 1.24. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week 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.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data 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. Fifth Third Bancorp had a net margin of 17.70% and a return on equity of 16.11%. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the company earned $0.78 earnings per share. As a group, equities research analysts predict that Fifth Third Bancorp will post 3.28 earnings per share for the current fiscal year.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a yield of 3.84%. Fifth Third Bancorp’s payout ratio is currently 44.44%.

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.