Tokio Marine Asset Management Co. Ltd. Raises Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,459 shares of the financial services provider’s stock after buying an additional 876 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Fifth Third Bancorp were worth $907,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC increased its holdings in 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 period. Legacy Investment Solutions LLC purchased a new position in Fifth Third Bancorp during the third quarter valued at approximately $36,000. Hexagon Capital Partners LLC increased its holdings in Fifth Third Bancorp by 56.9% during the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after buying an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp during the third quarter valued at approximately $39,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FITB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. 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. Keefe, Bruyette & Woods lifted their price target on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Baird R W lowered shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. 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 report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Trading Down 1.7 %

NASDAQ FITB opened at $43.57 on Tuesday. The company has a market capitalization of $29.22 billion, a PE ratio of 13.88, a P/E/G ratio of 1.44 and a beta of 1.24. The company has a fifty day moving average of $44.48 and a 200 day moving average of $43.36. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.40%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

About Fifth Third Bancorp

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.