Forsta AP Fonden Has $10.52 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Forsta AP Fonden lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 13.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 248,700 shares of the financial services provider’s stock after selling 38,600 shares during the period. Forsta AP Fonden’s holdings in Fifth Third Bancorp were worth $10,515,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. OneDigital Investment Advisors LLC increased its holdings in Fifth Third Bancorp by 1.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock valued at $878,000 after buying an additional 222 shares during the period. Transamerica Financial Advisors Inc. increased 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 acquiring an additional 232 shares in the last quarter. Eads & Heald Wealth Management grew its stake in shares of Fifth Third Bancorp by 3.0% during the fourth 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 last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Fifth Third Bancorp by 4.7% in the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock valued at $231,000 after purchasing an additional 246 shares in the last quarter. Finally, Quent Capital LLC raised its position in Fifth Third Bancorp by 9.9% in the 3rd quarter. Quent Capital LLC now owns 2,745 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 248 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FITB shares. DA Davidson lifted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial boosted their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $44.49 on Friday. The stock has a market capitalization of $29.83 billion, a PE ratio of 14.17, a P/E/G 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. The firm has a fifty day simple moving average of $44.61 and a 200 day simple moving average of $43.27. The company has a current ratio of 0.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.82.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

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.