First Citizens Bank & Trust Co. Has $2.93 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

First Citizens Bank & Trust Co. decreased its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,199 shares of the financial services provider’s stock after selling 3,535 shares during the period. First Citizens Bank & Trust Co.’s holdings in Fifth Third Bancorp were worth $2,926,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC acquired a new position in Fifth Third Bancorp during the 4th quarter valued at about $25,000. Venturi Wealth Management LLC lifted its position in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares during the period. Legacy Investment Solutions LLC acquired a new position in Fifth Third Bancorp during the 3rd quarter valued at about $36,000. Hexagon Capital Partners LLC lifted its position in Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. acquired a new position in Fifth Third Bancorp during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Ratings Changes

FITB has been the topic of a number of research reports. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Morgan Stanley upped their price target on Fifth Third Bancorp from $47.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, September 30th. Finally, Keefe, Bruyette & Woods upped their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus price target of $46.75.

Fifth Third Bancorp Price Performance

Shares of FITB opened at $44.18 on Monday. The stock has a market capitalization of $29.62 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.91 and a beta of 1.24. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The company has a 50 day moving average of $44.72 and a 200-day moving average of $43.13. 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.35%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Fifth Third Bancorp 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.