Fifth Third Bancorp (NASDAQ:FITB) Shares Sold by Journey Strategic Wealth LLC

Journey Strategic Wealth LLC lessened its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,726 shares of the financial services provider’s stock after selling 534 shares during the quarter. Journey Strategic Wealth LLC’s holdings in Fifth Third Bancorp were worth $242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FITB. Boston Common Asset Management LLC lifted its holdings in Fifth Third Bancorp by 12.4% during the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock valued at $13,079,000 after purchasing an additional 34,203 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock valued at $3,078,000 after acquiring an additional 9,444 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Fifth Third Bancorp by 13.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after purchasing an additional 55,081 shares during the period. Icon Wealth Advisors LLC purchased a new stake in Fifth Third Bancorp during the 3rd quarter worth about $541,000. Finally, Nordea Investment Management AB raised its position in Fifth Third Bancorp by 8.9% in the 4th quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock valued at $28,286,000 after purchasing an additional 54,463 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

FITB has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their price objective 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. Wells Fargo & Company boosted their target price 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. Royal Bank of Canada restated an “outperform” rating and set a $47.00 target price on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. DA Davidson boosted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. One investment 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. Based on data from MarketBeat.com, Fifth Third Bancorp currently has an average rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Trading Down 1.7 %

Shares of FITB stock opened at $43.57 on Tuesday. The business’s fifty day moving average price is $44.48 and its 200 day moving average price is $43.36. Fifth Third Bancorp has a 1-year low of $32.29 and a 1-year high of $49.07. The firm has a market capitalization of $29.22 billion, a PE ratio of 13.88, 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 current ratio of 0.80 and a quick ratio of 0.80.

Fifth Third Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.40%. Fifth Third Bancorp’s payout ratio is 47.13%.

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.