Fifth Third Bancorp $FITB Shares Sold by Lawson Kroeker Investment Management Inc. NE

Lawson Kroeker Investment Management Inc. NE lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 33.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 206,979 shares of the financial services provider’s stock after selling 101,921 shares during the quarter. Fifth Third Bancorp comprises about 2.9% of Lawson Kroeker Investment Management Inc. NE’s holdings, making the stock its 12th largest position. Lawson Kroeker Investment Management Inc. NE’s holdings in Fifth Third Bancorp were worth $9,689,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealthquest Corp grew its stake in Fifth Third Bancorp by 2.3% during the third quarter. Wealthquest Corp now owns 11,068 shares of the financial services provider’s stock worth $493,000 after buying an additional 244 shares during the period. Capital Investment Advisory Services LLC raised its stake in shares of Fifth Third Bancorp by 1.1% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 22,686 shares of the financial services provider’s stock valued at $1,011,000 after acquiring an additional 251 shares during the period. Foster & Motley Inc. lifted its holdings in shares of Fifth Third Bancorp by 1.7% during the 3rd quarter. Foster & Motley Inc. now owns 15,981 shares of the financial services provider’s stock valued at $712,000 after acquiring an additional 265 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Fifth Third Bancorp by 17.9% during the 3rd quarter. Trust Co. of Vermont now owns 1,761 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 267 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its position in Fifth Third Bancorp by 0.7% during the 3rd quarter. HBK Sorce Advisory LLC now owns 36,083 shares of the financial services provider’s stock worth $1,549,000 after purchasing an additional 267 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Performance

Shares of FITB stock opened at $47.11 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.83 and a quick ratio of 0.82. The company’s fifty day moving average price is $49.16 and its two-hundred day moving average price is $46.56. The firm has a market capitalization of $42.66 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.93 and a beta of 0.95. Fifth Third Bancorp has a 12 month low of $32.25 and a 12 month high of $55.44.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a yield of 3.4%. Fifth Third Bancorp’s dividend payout ratio is currently 45.20%.

Analysts Set New Price Targets

FITB has been the subject of several recent research reports. Jefferies Financial Group cut their price objective on Fifth Third Bancorp from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, March 24th. JPMorgan Chase & Co. initiated coverage on Fifth Third Bancorp in a research report on Monday, March 16th. They issued an “overweight” rating and a $50.50 target price for the company. Robert W. Baird increased their target price on Fifth Third Bancorp from $50.00 to $55.00 in a research note on Wednesday, December 17th. Piper Sandler reiterated an “overweight” rating and set a $54.00 target price (down from $57.00) on shares of Fifth Third Bancorp in a report on Monday, March 30th. Finally, Wells Fargo & Company boosted their price target on Fifth Third Bancorp from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Seventeen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.14.

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.