Truist Financial Corp grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB – Free Report) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 322,420 shares of the financial services provider’s stock after acquiring an additional 4,326 shares during the quarter. Truist Financial Corp’s holdings in Fifth Third Bancorp were worth $13,632,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the stock. OneDigital Investment Advisors LLC increased its position in shares of Fifth Third Bancorp by 1.1% during the third quarter. OneDigital Investment Advisors LLC now owns 20,505 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 222 shares during the last quarter. Transamerica Financial Advisors Inc. increased its position in shares of Fifth Third Bancorp by 7.5% during the third quarter. Transamerica Financial Advisors Inc. now owns 3,332 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 232 shares during the last quarter. Eads & Heald Wealth Management increased its position 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 worth $347,000 after acquiring an additional 235 shares during the last quarter. Valley National Advisers Inc. increased its position in shares of Fifth Third Bancorp by 3.6% during the fourth quarter. Valley National Advisers Inc. now owns 6,763 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 236 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Fifth Third Bancorp by 4.7% during the fourth quarter. Geneos Wealth Management Inc. now owns 5,475 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.
Fifth Third Bancorp Stock Performance
Shares of NASDAQ FITB opened at $43.61 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 50 day simple moving average of $43.59 and a 200-day simple moving average of $43.58. The company has a market cap of $29.24 billion, a PE ratio of 13.89, a P/E/G ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a 12-month low of $33.03 and a 12-month high of $49.07.
Fifth Third Bancorp Announces Dividend
Analysts Set New Price Targets
A number of analysts have recently issued reports on the company. Truist Financial lifted their target price on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Barclays boosted their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup boosted their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods boosted their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.75.
Check Out Our Latest Research Report on FITB
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.
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