Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Forsta AP Fonden

Forsta AP Fonden reduced its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 13.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 248,700 shares of the financial services provider’s stock after selling 38,600 shares during the quarter. Forsta AP Fonden’s holdings in Fifth Third Bancorp were worth $10,515,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FITB. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the 4th quarter worth approximately $25,000. Venturi Wealth Management LLC boosted its holdings in shares of 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 position in shares of Fifth Third Bancorp during the third quarter worth about $36,000. Hexagon Capital Partners LLC increased its holdings in shares of Fifth Third Bancorp by 56.9% in 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 period. Finally, MidAtlantic Capital Management Inc. bought a new stake in Fifth Third Bancorp in the 3rd quarter valued at about $39,000. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ FITB opened at $44.49 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.82 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07. The company has a market cap of $29.83 billion, a PE ratio of 14.17, a PEG ratio of 1.91 and a beta of 1.24. The stock’s 50-day moving average price is $44.61 and its two-hundred day moving average price is $43.27.

Fifth Third Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.33%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler restated an “overweight” rating and issued a $53.00 price target (down previously from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. DA Davidson raised their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Citigroup upped their price objective 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. Finally, Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price 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.