LaFleur & Godfrey LLC Buys Shares of 6,784 Fifth Third Bancorp (FITB)

LaFleur & Godfrey LLC acquired a new position in shares of Fifth Third Bancorp (NASDAQ:FITB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,784 shares of the financial services provider’s stock, valued at approximately $171,000.

Several other large investors also recently bought and sold shares of the company. FMR LLC lifted its stake in Fifth Third Bancorp by 0.8% in the third quarter. FMR LLC now owns 1,097,677 shares of the financial services provider’s stock valued at $30,647,000 after acquiring an additional 8,195 shares during the last quarter. First Republic Investment Management Inc. lifted its stake in Fifth Third Bancorp by 11.2% in the third quarter. First Republic Investment Management Inc. now owns 47,633 shares of the financial services provider’s stock valued at $1,330,000 after acquiring an additional 4,800 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Fifth Third Bancorp by 13.6% in the third quarter. Pacer Advisors Inc. now owns 37,070 shares of the financial services provider’s stock valued at $1,035,000 after acquiring an additional 4,439 shares during the last quarter. Man Group plc lifted its stake in Fifth Third Bancorp by 84.0% in the third quarter. Man Group plc now owns 436,843 shares of the financial services provider’s stock valued at $12,197,000 after acquiring an additional 199,427 shares during the last quarter. Finally, Putnam Investments LLC lifted its stake in Fifth Third Bancorp by 0.3% in the third quarter. Putnam Investments LLC now owns 741,866 shares of the financial services provider’s stock valued at $20,713,000 after acquiring an additional 2,344 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

A number of analysts have commented on FITB shares. Jefferies Financial Group upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. ValuEngine cut shares of Fifth Third Bancorp from a “sell” rating to a “strong sell” rating in a research note on Monday, March 25th. Sandler O’Neill upgraded shares of Fifth Third Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Zacks Investment Research cut shares of Fifth Third Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 11th. Finally, Vining Sparks restated a “buy” rating and set a $36.00 target price on shares of Fifth Third Bancorp in a research note on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.67.

NASDAQ:FITB opened at $27.83 on Friday. The company has a market cap of $18.05 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 1.35 and a beta of 1.36. Fifth Third Bancorp has a one year low of $22.12 and a one year high of $34.67. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 0.89.

Fifth Third Bancorp (NASDAQ:FITB) last released its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $1.67 billion. Fifth Third Bancorp had a net margin of 26.80% and a return on equity of 11.77%. During the same quarter in the previous year, the business posted $0.57 EPS. On average, analysts expect that Fifth Third Bancorp will post 2.77 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.88 annualized dividend and a dividend yield of 3.16%. Fifth Third Bancorp’s dividend payout ratio is currently 34.65%.

In other Fifth Third Bancorp news, CAO Teresa J. Tanner sold 2,918 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $28.75, for a total transaction of $83,892.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Teresa J. Tanner sold 55,600 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $27.47, for a total transaction of $1,527,332.00. The disclosure for this sale can be found here. Insiders sold a total of 84,727 shares of company stock valued at $2,302,901 in the last quarter. 0.40% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION NOTICE: “LaFleur & Godfrey LLC Buys Shares of 6,784 Fifth Third Bancorp (FITB)” was reported by Baseball Daily News and is owned by of Baseball Daily News. If you are reading this piece on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The original version of this piece can be accessed at https://www.baseballdailydigest.com/news/2019/05/10/lafleur-godfrey-llc-acquires-new-stake-in-fifth-third-bancorp-fitb.html.

About Fifth Third Bancorp

Fifth Third Bancorp operates as a diversified financial services company in the United States. The company's Commercial Banking segment offers credit intermediation, cash management, and financial services; lending and depository products; and cash management, foreign exchange and international trade finance, derivatives and capital markets services, asset-based lending, real estate finance, public finance, commercial leasing, and syndicated finance for business, government, and professional customers.

See Also: What is Cost of Debt?

Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

Receive News & Ratings for Fifth Third Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fifth Third Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.