Fifth Third Bancorp Purchases 80,980 Shares of Las Vegas Sands Corp. $LVS

Fifth Third Bancorp raised its position in Las Vegas Sands Corp. (NYSE:LVS) by 354.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,808 shares of the casino operator’s stock after purchasing an additional 80,980 shares during the quarter. Fifth Third Bancorp’s holdings in Las Vegas Sands were worth $5,593,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Grove Bank & Trust bought a new stake in Las Vegas Sands during the 4th quarter worth about $26,000. International Assets Investment Management LLC bought a new position in shares of Las Vegas Sands during the 4th quarter worth approximately $26,000. DV Equities LLC bought a new position in shares of Las Vegas Sands during the 4th quarter worth approximately $28,000. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Las Vegas Sands during the 4th quarter worth approximately $29,000. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of Las Vegas Sands by 254.8% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 557 shares of the casino operator’s stock valued at $36,000 after acquiring an additional 400 shares in the last quarter. 39.16% of the stock is currently owned by institutional investors.

Las Vegas Sands Stock Down 0.7%

Shares of NYSE LVS opened at $45.37 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 8.64. The firm has a market cap of $30.06 billion, a PE ratio of 16.80, a P/E/G ratio of 1.03 and a beta of 0.83. The company’s fifty day simple moving average is $48.80 and its 200 day simple moving average is $53.90. Las Vegas Sands Corp. has a 12-month low of $44.22 and a 12-month high of $70.45.

Las Vegas Sands (NYSE:LVS) last issued its earnings results on Wednesday, April 22nd. The casino operator reported $0.91 EPS for the quarter, beating the consensus estimate of $0.76 by $0.15. Las Vegas Sands had a return on equity of 118.27% and a net margin of 13.41%.The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Las Vegas Sands Corp. will post 3.38 earnings per share for the current fiscal year.

Las Vegas Sands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, May 5th. Las Vegas Sands’s payout ratio is currently 44.44%.

Analyst Ratings Changes

LVS has been the subject of a number of analyst reports. Seaport Research Partners dropped their price target on Las Vegas Sands from $72.00 to $69.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Mizuho upped their price objective on Las Vegas Sands from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Jefferies Financial Group upped their price target on Las Vegas Sands from $61.00 to $63.00 and gave the company a “hold” rating in a research report on Thursday, April 23rd. UBS Group set a $52.00 target price on shares of Las Vegas Sands in a report on Thursday, July 2nd. Finally, Barclays lowered their price objective on Las Vegas Sands from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.19.

Las Vegas Sands Profile

Las Vegas Sands (NYSE: LVS) is a global developer and operator of integrated resorts, focused on large-scale properties that combine casino gaming with hotels, convention and exhibition facilities, retail, dining, and entertainment. The company’s operations center on developing and managing full-service resort complexes that serve both leisure and business travelers, with emphasis on convention and trade-show business in addition to gaming revenue streams.

The company’s portfolio has included prominent properties in North America and Asia, most notably The Venetian Resort in Las Vegas and Marina Bay Sands in Singapore, along with a significant presence in Macau through multiple integrated resorts.