Chevy Chase Trust Holdings LLC Has $14.89 Million Stock Position in Fifth Third Bancorp (NASDAQ:FITB)

Chevy Chase Trust Holdings LLC lowered its position in shares of Fifth Third Bancorp (NASDAQ:FITBFree Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 352,229 shares of the financial services provider’s stock after selling 11,040 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Fifth Third Bancorp were worth $14,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Banque Pictet & Cie SA acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter worth $507,000. Vontobel Holding Ltd. grew its position in Fifth Third Bancorp by 79.4% in the fourth quarter. Vontobel Holding Ltd. now owns 15,305 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 6,774 shares during the last quarter. Asset Management One Co. Ltd. grew its position in Fifth Third Bancorp by 3.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 265,622 shares of the financial services provider’s stock valued at $11,395,000 after acquiring an additional 8,144 shares during the last quarter. Kentucky Trust Co bought a new position in Fifth Third Bancorp in the fourth quarter valued at about $987,000. Finally, Axecap Investments LLC grew its position in Fifth Third Bancorp by 7.7% in the fourth quarter. Axecap Investments LLC now owns 54,391 shares of the financial services provider’s stock valued at $2,300,000 after acquiring an additional 3,873 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Up 1.1 %

NASDAQ FITB opened at $44.06 on Monday. The stock has a 50 day moving average price of $43.70 and a 200-day moving average price of $43.51. Fifth Third Bancorp has a one year low of $33.03 and a one year high of $49.07. The company has a market capitalization of $29.54 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Fifth Third Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 payout ratio is 47.13%.

Wall Street Analyst Weigh In

A number of research firms recently commented on FITB. 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 research note on Thursday, January 23rd. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a report on Monday, October 21st. Barclays increased their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their target price 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, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $46.75.

Get Our Latest Research Report on FITB

About Fifth Third Bancorp

(Free Report)

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.

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Institutional Ownership by Quarter for Fifth Third Bancorp (NASDAQ:FITB)

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