Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Truist Financial Corp

Truist Financial Corp lifted its position in Fifth Third Bancorp (NASDAQ:FITB) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 322,420 shares of the financial services provider’s stock after purchasing 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 quarter.

Other large investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC lifted its position in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 316 shares during the period. Sierra Ocean LLC acquired a new stake in Fifth Third Bancorp during the 4th quarter worth approximately $28,000. Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp during the 3rd quarter worth approximately $36,000. Finally, Y.D. More Investments Ltd lifted its position in Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 449 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Fifth Third Bancorp Stock Performance

NASDAQ FITB opened at $43.61 on Friday. Fifth Third Bancorp has a 1-year low of $33.03 and a 1-year high of $49.07. The company has a market capitalization of $29.24 billion, a P/E ratio of 13.89, a PEG ratio of 1.44 and a beta of 1.23. The business has a 50 day moving average price of $43.59 and a 200 day moving average price of $43.58. 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 Announces Dividend

The business also recently declared 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. This represents a $1.48 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s payout ratio is 47.13%.

Wall Street Analyst Weigh In

FITB has been the subject of a number of recent research reports. DA Davidson increased their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Citigroup increased their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Monday, February 10th. 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.75.

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.