LGT Fund Management Co Ltd. Invests $219,000 in Fifth Third Bancorp (NASDAQ:FITB)

LGT Fund Management Co Ltd. bought a new position in Fifth Third Bancorp (NASDAQ:FITB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,009 shares of the financial services provider’s stock, valued at approximately $219,000.

Other large investors have also made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of Fifth Third Bancorp in the 1st quarter worth about $29,000. American Capital Advisory LLC bought a new stake in Fifth Third Bancorp during the 2nd quarter worth about $34,000. Centerpoint Advisors LLC grew its holdings in Fifth Third Bancorp by 125.0% during the 1st quarter. Centerpoint Advisors LLC now owns 1,350 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 750 shares during the last quarter. Family Firm Inc. bought a new stake in Fifth Third Bancorp during the 2nd quarter worth about $52,000. Finally, Mather Group LLC. bought a new stake in Fifth Third Bancorp during the 1st quarter worth about $56,000. Institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FITB. StockNews.com raised shares of Fifth Third Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Stephens reissued an “equal weight” rating and set a $41.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $40.00 price objective on shares of Fifth Third Bancorp in a report on Tuesday, June 11th. Evercore ISI decreased their price objective on shares of Fifth Third Bancorp from $42.00 to $41.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Finally, Argus upped their target price on shares of Fifth Third Bancorp from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.56.

Insiders Place Their Bets

In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Fifth Third Bancorp news, EVP Jude Schramm sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive vice president now directly owns 134,422 shares in the company, valued at approximately $5,376,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total transaction of $494,520.00. Following the sale, the director now owns 20,961 shares in the company, valued at $863,802.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,500 shares of company stock worth $2,269,920. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Performance

Shares of NASDAQ:FITB opened at $40.97 on Wednesday. The company has a market capitalization of $28.03 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 1.91 and a beta of 1.22. The firm’s 50 day simple moving average is $40.31 and its 200 day simple moving average is $37.74. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.81 and a quick ratio of 0.81. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $42.91.

Fifth Third Bancorp (NASDAQ:FITB) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $2.11 billion. Fifth Third Bancorp had a net margin of 17.41% and a return on equity of 15.79%. During the same quarter in the prior year, the business earned $0.87 earnings per share. As a group, sell-side analysts forecast that Fifth Third Bancorp will post 3.3 earnings per share for the current year.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, June 28th. This represents a $1.40 annualized dividend and a yield of 3.42%. Fifth Third Bancorp’s dividend payout ratio (DPR) 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.