Woodward Diversified Capital LLC Sells 5,495 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Woodward Diversified Capital LLC trimmed its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 43.8% in the fourth quarter, HoldingsChannel reports. The fund owned 7,062 shares of the financial services provider’s stock after selling 5,495 shares during the period. Woodward Diversified Capital LLC’s holdings in Fifth Third Bancorp were worth $299,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp in the fourth quarter worth $25,000. Venturi Wealth Management LLC increased its holdings in shares of Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after buying an additional 316 shares during the period. Y.D. More Investments Ltd lifted its stake in shares of Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 449 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Fifth Third Bancorp during the 3rd quarter valued at about $36,000. Finally, Hexagon Capital Partners LLC grew 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 worth $37,000 after acquiring an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 0.6 %

NASDAQ:FITB opened at $44.04 on Friday. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The company has a market capitalization of $29.53 billion, a PE ratio of 14.03, a P/E/G ratio of 1.44 and a beta of 1.23. The firm’s 50-day moving average price is $44.14 and its 200-day moving average price is $43.41. 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. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is 47.13%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FITB shares. DA Davidson increased their price objective 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. Royal Bank of Canada reissued an “outperform” rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. Citigroup upped their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.75.

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.