Hunter Associates Investment Management LLC Decreases Stake in Fifth Third Bancorp (NASDAQ:FITB)

Hunter Associates Investment Management LLC reduced its position in Fifth Third Bancorp (NASDAQ:FITB) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,740 shares of the financial services provider’s stock after selling 1,000 shares during the period. Hunter Associates Investment Management LLC’s holdings in Fifth Third Bancorp were worth $369,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FITB. AQR Capital Management LLC raised its position in Fifth Third Bancorp by 63.3% during the second quarter. AQR Capital Management LLC now owns 72,611 shares of the financial services provider’s stock valued at $2,615,000 after purchasing an additional 28,156 shares during the period. Millennium Management LLC raised its position in Fifth Third Bancorp by 896.7% during the second quarter. Millennium Management LLC now owns 648,886 shares of the financial services provider’s stock valued at $23,678,000 after purchasing an additional 583,781 shares during the period. Cetera Investment Advisers raised its position in Fifth Third Bancorp by 3.0% during the second quarter. Cetera Investment Advisers now owns 175,140 shares of the financial services provider’s stock valued at $6,391,000 after purchasing an additional 5,135 shares during the period. Sanctuary Advisors LLC purchased a new stake in Fifth Third Bancorp during the second quarter valued at approximately $3,857,000. Finally, Czech National Bank raised its position in Fifth Third Bancorp by 5.8% during the third quarter. Czech National Bank now owns 137,886 shares of the financial services provider’s stock valued at $5,907,000 after purchasing an additional 7,535 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Fifth Third Bancorp Stock Down 0.4 %

Shares of NASDAQ FITB opened at $44.31 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $29.71 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The stock’s fifty day simple moving average is $44.55 and its two-hundred day simple moving average is $43.28. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given 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 yield of 3.34%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analyst Ratings Changes

FITB has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods upped their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Baird R W downgraded Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Truist Financial increased their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Finally, Barclays increased their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to 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.