Sumitomo Mitsui Trust Group Inc. Cuts Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 13.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,495,952 shares of the financial services provider’s stock after selling 235,704 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Fifth Third Bancorp were worth $63,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oakworth Capital Inc. raised its stake in Fifth Third Bancorp by 8,341.7% in the fourth quarter. Oakworth Capital Inc. now owns 2,026 shares of the financial services provider’s stock worth $86,000 after buying an additional 2,002 shares in the last quarter. Silver Oak Securities Incorporated bought a new position in shares of Fifth Third Bancorp in the 4th quarter worth $253,000. YANKCOM Partnership purchased a new stake in shares of Fifth Third Bancorp during the 4th quarter worth $625,000. Centennial Wealth Advisory LLC boosted its position in Fifth Third Bancorp by 6.1% during the fourth quarter. Centennial Wealth Advisory LLC now owns 10,281 shares of the financial services provider’s stock valued at $435,000 after purchasing an additional 590 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Fifth Third Bancorp by 19.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 549,289 shares of the financial services provider’s stock valued at $23,564,000 after purchasing an additional 88,740 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Fifth Third Bancorp Trading Down 0.6 %

NASDAQ FITB opened at $44.04 on Monday. The company has a fifty day moving average of $44.06 and a 200 day moving average of $43.45. The company has a market capitalization of $29.53 billion, a PE 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 current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 1 year low of $32.29 and a 1 year high of $49.07.

Fifth Third Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 dividend yield of 3.36%. Fifth Third Bancorp’s payout ratio is 47.13%.

Analyst Ratings Changes

Several analysts have commented on FITB shares. Citigroup increased their price target 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. Truist Financial raised their target price on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. DA Davidson upped their price target on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Barclays boosted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.75.

Fifth Third Bancorp Company 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.