First Citizens Bank & Trust Co. Sells 3,535 Shares of Fifth Third Bancorp (NASDAQ:FITB)

First Citizens Bank & Trust Co. cut its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,199 shares of the financial services provider’s stock after selling 3,535 shares during the period. First Citizens Bank & Trust Co.’s holdings in Fifth Third Bancorp were worth $2,926,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp during the fourth quarter valued at about $25,000. Venturi Wealth Management LLC boosted 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 acquiring an additional 316 shares during the period. Legacy Investment Solutions LLC bought a new stake in Fifth Third Bancorp during the third quarter valued at about $36,000. Hexagon Capital Partners LLC boosted 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 acquiring an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in Fifth Third Bancorp during the third quarter valued at about $39,000. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FITB. Truist Financial upped their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Evercore ISI increased their target price on shares of Fifth Third Bancorp from $46.00 to $47.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased 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. StockNews.com cut shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, Citigroup increased their target price 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. One 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 company. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Stock Up 0.8 %

FITB opened at $44.18 on Monday. The firm’s 50-day simple moving average is $44.72 and its 200-day simple moving average is $43.13. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.82 and a current ratio of 0.80. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month high of $49.07. The firm has a market cap of $29.62 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.91 and a beta of 1.24.

Fifth Third Bancorp Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 3.35%. Fifth Third Bancorp’s dividend payout ratio (DPR) is 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.