Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC trimmed its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 273,256 shares of the financial services provider’s stock after selling 23,128 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Fifth Third Bancorp were worth $11,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in FITB. OneDigital Investment Advisors LLC increased its position in Fifth Third Bancorp by 1.1% in the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after buying an additional 222 shares during the period. Transamerica Financial Advisors Inc. lifted its position in Fifth Third Bancorp by 7.5% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock valued at $143,000 after purchasing an additional 232 shares during the last quarter. Eads & Heald Wealth Management boosted its stake in Fifth Third Bancorp by 3.0% during the 4th quarter. Eads & Heald Wealth Management now owns 8,201 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 235 shares during the period. Geneos Wealth Management Inc. grew its position in Fifth Third Bancorp by 4.7% in the 4th quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock worth $231,000 after purchasing an additional 246 shares during the last quarter. Finally, Quent Capital LLC increased its stake in shares of Fifth Third Bancorp by 9.9% in the third quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 248 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Down 1.4 %

NASDAQ:FITB opened at $44.17 on Thursday. The stock has a fifty day simple moving average of $44.65 and a 200 day simple moving average of $43.27. The company has a quick ratio of 0.82, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The firm has a market capitalization 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. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07.

Fifth Third Bancorp Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.35%. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Fifth Third Bancorp from $46.00 to $47.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Baird R W lowered Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Barclays raised their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Fifth Third Bancorp currently has a consensus rating of “Hold” and an average price target of $46.75.

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.