Hunter Perkins Capital Management LLC Sells 2,455 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Hunter Perkins Capital Management LLC lessened its stake in Fifth Third Bancorp (NASDAQ:FITB) by 7.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,965 shares of the financial services provider’s stock after selling 2,455 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in Fifth Third Bancorp were worth $1,232,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $25,000. Venturi Wealth Management LLC increased its stake in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 316 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in Fifth Third Bancorp in the third quarter worth $36,000. Hexagon Capital Partners LLC boosted its position in shares of 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 worth $37,000 after purchasing an additional 312 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in shares of Fifth Third Bancorp in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

NASDAQ:FITB opened at $44.18 on Monday. The stock has a market capitalization of $29.62 billion, a PE ratio of 14.07, a P/E/G ratio of 1.91 and a beta of 1.24. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The firm has a fifty day simple moving average of $44.72 and a 200 day simple moving average of $43.18. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analysts Set New Price Targets

Several research firms have weighed in on FITB. Citigroup lifted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Wells Fargo & Company raised their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Barclays upped their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Truist Financial raised their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.75.

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.