Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Advisory Resource Group

Advisory Resource Group grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,986 shares of the financial services provider’s stock after acquiring an additional 1,559 shares during the quarter. Fifth Third Bancorp comprises approximately 1.0% of Advisory Resource Group’s investment portfolio, making the stock its 26th largest holding. Advisory Resource Group’s holdings in Fifth Third Bancorp were worth $4,946,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC boosted its position in Fifth Third Bancorp by 89.5% in the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Fifth Third Bancorp in the third quarter valued at approximately $36,000. Y.D. More Investments Ltd boosted its position in Fifth Third Bancorp by 118.5% in the fourth quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after buying an additional 449 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in 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. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Stock Down 0.6 %

NASDAQ FITB opened at $44.04 on Friday. The business has a fifty day moving average price of $44.06 and a 200 day moving average price of $43.43. 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 0.80 and a current ratio of 0.80. The company has a market cap of $29.53 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.36%. The ex-dividend date was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FITB shares. Royal Bank of Canada restated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. 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 report on Friday, November 15th. Barclays upped their price objective on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Truist Financial upped their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus price target of $46.75.

About Fifth Third Bancorp

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.