Fifth Third Bancorp Boosts Stake in Telephone and Data Systems, Inc. $TDS

Fifth Third Bancorp increased its position in Telephone and Data Systems, Inc. (NYSE:TDS) by 1,663.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,439 shares of the Wireless communications provider’s stock after acquiring an additional 24,940 shares during the period. Fifth Third Bancorp’s holdings in Telephone and Data Systems were worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC increased its stake in shares of Telephone and Data Systems by 51.3% in the fourth quarter. Salomon & Ludwin LLC now owns 681 shares of the Wireless communications provider’s stock worth $28,000 after acquiring an additional 231 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Telephone and Data Systems during the third quarter worth $33,000. Caitong International Asset Management Co. Ltd lifted its position in Telephone and Data Systems by 2,779.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,123 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 1,084 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Telephone and Data Systems by 191.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,311 shares of the Wireless communications provider’s stock valued at $47,000 after buying an additional 861 shares during the last quarter. Finally, Ameliora Wealth Management Ltd. purchased a new position in shares of Telephone and Data Systems during the 1st quarter valued at about $90,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on TDS shares. Raymond James Financial cut Telephone and Data Systems from an “outperform” rating to a “market perform” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of Telephone and Data Systems from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Weiss Ratings cut shares of Telephone and Data Systems from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $53.33.

Telephone and Data Systems Stock Performance

NYSE TDS opened at $34.33 on Friday. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 64.77 and a beta of 0.30. Telephone and Data Systems, Inc. has a twelve month low of $33.01 and a twelve month high of $49.12. The company has a current ratio of 3.43, a quick ratio of 3.42 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $37.70 and a 200 day moving average of $41.99.

Telephone and Data Systems (NYSE:TDS) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $1.11 EPS for the quarter, beating the consensus estimate of ($0.87) by $1.98. The company had revenue of $309.45 million for the quarter, compared to analyst estimates of $313.27 million. Telephone and Data Systems had a return on equity of 5.54% and a net margin of 6.15%.Telephone and Data Systems’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company earned ($0.09) earnings per share. Sell-side analysts anticipate that Telephone and Data Systems, Inc. will post 0.94 EPS for the current fiscal year.

Telephone and Data Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Telephone and Data Systems’s payout ratio is presently 30.19%.

About Telephone and Data Systems

Telephone and Data Systems, Inc (NYSE: TDS) is a diversified telecommunications company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides a broad array of communications services, including wireless voice and data, wireline broadband and voice, cable television, and managed IT and cloud solutions. Its two primary operating units—TDS Telecom and U.S. Cellular—serve residential, business and wholesale customers across the United States.

TDS Telecom focuses on delivering broadband internet, digital voice, video and data communications services in primarily rural and suburban markets.