674 Shares in Fifth Third Bancorp (NASDAQ:FITB) Acquired by Sierra Ocean LLC

Sierra Ocean LLC purchased a new position in Fifth Third Bancorp (NASDAQ:FITB) during the fourth quarter, HoldingsChannel reports. The fund purchased 674 shares of the financial services provider’s stock, valued at approximately $28,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. J.W. Cole Advisors Inc. grew its holdings in Fifth Third Bancorp by 25.2% during the 4th quarter. J.W. Cole Advisors Inc. now owns 11,096 shares of the financial services provider’s stock valued at $469,000 after buying an additional 2,235 shares during the last quarter. Valmark Advisers Inc. grew its holdings in Fifth Third Bancorp by 2.6% during the 4th quarter. Valmark Advisers Inc. now owns 16,597 shares of the financial services provider’s stock valued at $702,000 after buying an additional 419 shares during the last quarter. Allworth Financial LP grew its holdings in Fifth Third Bancorp by 6.7% during the 4th quarter. Allworth Financial LP now owns 7,559 shares of the financial services provider’s stock valued at $332,000 after buying an additional 477 shares during the last quarter. Principal Securities Inc. grew its holdings in Fifth Third Bancorp by 9.7% during the 4th quarter. Principal Securities Inc. now owns 30,929 shares of the financial services provider’s stock valued at $1,308,000 after buying an additional 2,724 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new stake in Fifth Third Bancorp during the 4th quarter valued at $1,821,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 0.9 %

NASDAQ:FITB opened at $44.46 on Wednesday. The business’s 50-day moving average is $43.66 and its two-hundred day moving average is $43.54. 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 has a 12 month low of $33.03 and a 12 month high of $49.07. The firm has a market capitalization of $29.81 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.33%. 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

A number of brokerages have commented on FITB. Wells Fargo & Company increased their target price on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Citigroup increased their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. DA Davidson increased their price target 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. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.