Asio Capital LLC Sells 8,293 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Asio Capital LLC lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 10.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,583 shares of the financial services provider’s stock after selling 8,293 shares during the quarter. Asio Capital LLC’s holdings in Fifth Third Bancorp were worth $2,984,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Fifth Third Bancorp by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 20,774,462 shares of the financial services provider’s stock worth $889,978,000 after purchasing an additional 732,651 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Fifth Third Bancorp by 4.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,679,671 shares of the financial services provider’s stock worth $371,837,000 after acquiring an additional 399,827 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Fifth Third Bancorp by 8.1% during the third quarter. Franklin Resources Inc. now owns 5,476,374 shares of the financial services provider’s stock worth $242,713,000 after acquiring an additional 409,292 shares during the period. Smead Capital Management Inc. raised its stake in shares of Fifth Third Bancorp by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,224,047 shares of the financial services provider’s stock valued at $95,278,000 after acquiring an additional 75,024 shares in the last quarter. Finally, Zacks Investment Management boosted its holdings in shares of Fifth Third Bancorp by 10.0% in the third quarter. Zacks Investment Management now owns 1,737,866 shares of the financial services provider’s stock valued at $74,450,000 after purchasing an additional 158,067 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 0.8 %

FITB stock opened at $44.18 on Friday. Fifth Third Bancorp has a one year low of $32.29 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.82 and a current ratio of 0.80. The firm’s fifty day moving average is $44.72 and its 200 day moving average is $43.08. The firm has a market cap 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 Dividend Announcement

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

Wall Street Analyst Weigh In

FITB has been the topic of several research reports. DA Davidson raised 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. Morgan Stanley upped their price objective on shares of Fifth Third Bancorp from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, September 30th. Wells Fargo & Company upped their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Keefe, Bruyette & Woods lifted their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Barclays increased their price target on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One investment 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $46.75.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction on Monday, October 28th. The shares were sold at an average price of $43.67, for a total value of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is owned by company insiders.

Fifth Third Bancorp 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.