Fifth Third Bancorp Trims Stock Position in Lamar Advertising Company $LAMR

Fifth Third Bancorp cut its stake in Lamar Advertising Company (NASDAQ:LAMR) by 14.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,783 shares of the real estate investment trust’s stock after selling 801 shares during the period. Fifth Third Bancorp’s holdings in Lamar Advertising were worth $580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. 1248 Management LLC purchased a new stake in Lamar Advertising in the first quarter valued at $26,000. Golden State Wealth Management LLC purchased a new stake in Lamar Advertising in the first quarter valued at $28,000. HHM Wealth Advisors LLC lifted its position in Lamar Advertising by 26,900.0% in the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 269 shares during the last quarter. ST Germain D J Co. Inc. lifted its position in Lamar Advertising by 346.0% in the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 218 shares during the last quarter. Finally, Truvestments Capital LLC lifted its position in Lamar Advertising by 79.5% in the first quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 140 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Trading Down 0.6%

Shares of Lamar Advertising stock opened at $120.92 on Tuesday. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The company’s 50-day simple moving average is $124.27 and its 200-day simple moving average is $119.41. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 28.12 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The business had revenue of $579.31 million for the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, equities research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a yield of 5.1%. The ex-dividend date is Friday, September 19th. Lamar Advertising’s dividend payout ratio is presently 144.19%.

Insiders Place Their Bets

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 14.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. JPMorgan Chase & Co. dropped their price objective on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Finally, Morgan Stanley lifted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $134.20.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.