Woodward Diversified Capital LLC Decreases Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Woodward Diversified Capital LLC reduced its stake in Fifth Third Bancorp (NASDAQ:FITB) by 43.8% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,062 shares of the financial services provider’s stock after selling 5,495 shares during the quarter. Woodward Diversified Capital LLC’s holdings in Fifth Third Bancorp were worth $299,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FITB. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp in the fourth quarter valued at about $25,000. Venturi Wealth Management LLC lifted 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 during the last quarter. Legacy Investment Solutions LLC bought a new position in Fifth Third Bancorp during the third quarter valued at $36,000. Y.D. More Investments Ltd increased its position in Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after buying an additional 449 shares during the last quarter. Finally, 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 valued at $37,000 after buying an additional 312 shares during the period. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

FITB stock opened at $44.04 on Friday. The firm has a 50 day simple moving average of $44.14 and a two-hundred day simple moving average of $43.41. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $29.53 billion, a PE ratio of 14.03, a P/E/G ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.36%. Fifth Third Bancorp’s dividend payout ratio is presently 47.13%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. DA Davidson lifted their price objective on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Piper Sandler restated an “overweight” rating and set a $53.00 price target (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Wells Fargo & Company lifted their price objective 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. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.