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

Lawson Kroeker Investment Management Inc. NE raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 315,837 shares of the financial services provider’s stock after buying an additional 3,657 shares during the period. Fifth Third Bancorp makes up about 2.4% of Lawson Kroeker Investment Management Inc. NE’s portfolio, making the stock its 12th biggest holding. Lawson Kroeker Investment Management Inc. NE’s holdings in Fifth Third Bancorp were worth $12,990,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Moody National Bank Trust Division boosted its holdings in Fifth Third Bancorp by 1.5% during the 2nd quarter. Moody National Bank Trust Division now owns 18,456 shares of the financial services provider’s stock valued at $759,000 after acquiring an additional 271 shares during the period. Commerce Bank increased its stake in Fifth Third Bancorp by 0.7% during the first quarter. Commerce Bank now owns 40,331 shares of the financial services provider’s stock worth $1,581,000 after purchasing an additional 282 shares during the period. BankPlus Trust Department lifted its position in shares of Fifth Third Bancorp by 53.0% during the second quarter. BankPlus Trust Department now owns 837 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 290 shares in the last quarter. Orca Wealth Management LLC boosted its stake in shares of Fifth Third Bancorp by 0.8% in the first quarter. Orca Wealth Management LLC now owns 35,296 shares of the financial services provider’s stock valued at $1,384,000 after purchasing an additional 294 shares during the period. Finally, Meadow Creek Wealth Advisors LLC grew its holdings in shares of Fifth Third Bancorp by 3.0% in the first quarter. Meadow Creek Wealth Advisors LLC now owns 10,451 shares of the financial services provider’s stock valued at $410,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 5.3%

Shares of NASDAQ FITB opened at $41.47 on Friday. The company has a market capitalization of $27.45 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $44.23 and a two-hundred day moving average of $40.72. Fifth Third Bancorp has a 1 year low of $32.25 and a 1 year high of $49.07.

Fifth Third Bancorp declared that its Board of Directors has approved a stock buyback plan on Monday, June 16th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Fifth Third Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 30th. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 3.9%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 49.69%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FITB. Citigroup increased their target price on shares of Fifth Third Bancorp from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. TD Cowen upped their price objective on Fifth Third Bancorp from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. UBS Group lifted their target price on Fifth Third Bancorp from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Truist Financial upped their price target on Fifth Third Bancorp from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, September 12th. Finally, Janney Montgomery Scott increased their price target on Fifth Third Bancorp from $50.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Fifth Third Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $50.20.

Fifth Third Bancorp 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.