Hunter Associates Investment Management LLC Sells 1,000 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Hunter Associates Investment Management LLC cut its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,740 shares of the financial services provider’s stock after selling 1,000 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Fifth Third Bancorp were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at $25,000. Venturi Wealth Management LLC raised its stake 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 buying an additional 316 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Fifth Third Bancorp in the third quarter worth $36,000. Hexagon Capital Partners LLC raised its stake in shares of Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 312 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Fifth Third Bancorp in the third quarter worth $39,000. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. 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. Truist Financial boosted their price target on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. DA Davidson upped their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Citigroup upped their price objective on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Stock Performance

NASDAQ:FITB opened at $44.31 on Friday. The firm has a market capitalization of $29.71 billion, a PE ratio of 14.11, a P/E/G ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a 50-day simple moving average of $44.55 and a two-hundred day simple moving average of $43.28. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-week high of $49.07.

Fifth Third Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is 47.13%.

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.