Fifth Third Bancorp Cuts Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Fifth Third Bancorp lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 777,172 shares of the financial services provider’s stock after selling 15,466 shares during the period. Fifth Third Bancorp’s holdings in Fifth Third Bancorp were worth $32,859,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $25,000. Venturi Wealth Management LLC lifted its position in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $36,000. Hexagon Capital Partners LLC grew its position in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new position in shares of Fifth Third Bancorp during the 3rd quarter worth approximately $39,000. Institutional investors own 83.79% of the company’s stock.

Insider Activity at Fifth Third Bancorp

In other Fifth Third Bancorp news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the completion of the transaction, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Fifth Third Bancorp Stock Up 0.8 %

Fifth Third Bancorp stock opened at $44.18 on Friday. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The firm has a market cap of $29.62 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24. The business’s 50-day moving average price is $44.72 and its 200 day moving average price is $43.08. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.35%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

Wall Street Analysts Forecast Growth

FITB has been the topic of several analyst reports. Citigroup lifted their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Wells Fargo & Company raised their price target on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. DA Davidson upped their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Evercore ISI lifted their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.75.

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.