Mirae Asset Global Investments Co. Ltd. Increases Position in Fifth Third Bancorp (NASDAQ:FITB)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB) by 19.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 549,289 shares of the financial services provider’s stock after purchasing an additional 88,740 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Fifth Third Bancorp worth $23,564,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FITB. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp during the fourth quarter valued at $25,000. Venturi Wealth Management LLC lifted its position in Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 449 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $36,000. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Fifth Third Bancorp by 56.9% in the 3rd 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. 83.79% of the stock is owned by institutional investors.

Fifth Third Bancorp Stock Up 0.3 %

Shares of FITB stock opened at $43.98 on Thursday. 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 company’s fifty day moving average price is $44.30 and its 200-day moving average price is $43.40. The company has a market capitalization of $29.49 billion, a price-to-earnings ratio of 14.01, a PEG 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.37%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company increased their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. StockNews.com lowered shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Citigroup increased their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. Finally, Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Fifth Third Bancorp currently has an average rating of “Hold” and an average target price of $46.75.

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.