Lockerman Financial Group Inc. Has $299,000 Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Lockerman Financial Group Inc. grew its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,985 shares of the financial services provider’s stock after acquiring an additional 264 shares during the quarter. Lockerman Financial Group Inc.’s holdings in Fifth Third Bancorp were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Capital World Investors lifted its position in Fifth Third Bancorp by 13.4% during the 1st quarter. Capital World Investors now owns 46,596,261 shares of the financial services provider’s stock worth $1,733,847,000 after buying an additional 5,512,333 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Fifth Third Bancorp in the second quarter valued at approximately $33,337,000. Vanguard Group Inc. raised its stake in shares of Fifth Third Bancorp by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 87,343,335 shares of the financial services provider’s stock worth $3,012,472,000 after purchasing an additional 734,403 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Fifth Third Bancorp by 896.7% in the 2nd quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after buying an additional 583,781 shares during the last quarter. Finally, Vest Financial LLC acquired a new stake in shares of Fifth Third Bancorp in the 1st quarter valued at approximately $19,401,000. 83.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Fifth Third Bancorp

In other Fifth Third Bancorp news, Director Mitchell Stuart Feiger sold 12,000 shares of Fifth Third Bancorp stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $41.21, for a total value of $494,520.00. Following the transaction, the director now owns 20,961 shares in the company, valued at $863,802.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Kevin P. Lavender sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $41.77, for a total transaction of $835,400.00. Following the sale, the executive vice president now owns 125,087 shares in the company, valued at $5,224,883.99. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mitchell Stuart Feiger sold 12,000 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $41.21, for a total value of $494,520.00. Following the completion of the transaction, the director now owns 20,961 shares of the company’s stock, valued at $863,802.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,000 shares of company stock worth $2,169,920 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB traded up $0.33 during midday trading on Tuesday, reaching $44.65. The company’s stock had a trading volume of 5,339,845 shares, compared to its average volume of 4,585,357. The business’s 50 day moving average price is $41.71 and its two-hundred day moving average price is $38.88. The company has a market cap of $30.54 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.94 and a beta of 1.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.81 and a current ratio of 0.81. Fifth Third Bancorp has a fifty-two week low of $22.49 and a fifty-two week high of $45.57.

Fifth Third Bancorp (NASDAQ:FITB) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). The company 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 period last year, the firm earned $0.87 EPS. On average, analysts forecast that Fifth Third Bancorp will post 3.31 EPS for the current fiscal year.

Fifth Third Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.37 per share. This is a positive change from Fifth Third Bancorp’s previous quarterly dividend of $0.35. The ex-dividend date is Monday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 3.31%. Fifth Third Bancorp’s dividend payout ratio (DPR) is currently 46.98%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on FITB shares. Jefferies Financial Group increased their price target on shares of Fifth Third Bancorp from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Royal Bank of Canada lifted their price target on Fifth Third Bancorp from $38.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 9th. Morgan Stanley lifted their target price on Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Finally, Evercore ISI increased their price target on Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $41.78.

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.