J.W. Cole Advisors Inc. Raises Position in Fifth Third Bancorp (NASDAQ:FITB)

J.W. Cole Advisors Inc. lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 25.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,096 shares of the financial services provider’s stock after buying an additional 2,235 shares during the period. J.W. Cole Advisors Inc.’s holdings in Fifth Third Bancorp were worth $469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in Fifth Third Bancorp in the third quarter valued at about $69,000. Creative Planning boosted its holdings in Fifth Third Bancorp by 1.8% in the third quarter. Creative Planning now owns 236,317 shares of the financial services provider’s stock valued at $10,124,000 after purchasing an additional 4,116 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Fifth Third Bancorp by 5.3% in the third quarter. Vontobel Holding Ltd. now owns 8,531 shares of the financial services provider’s stock valued at $365,000 after purchasing an additional 426 shares during the last quarter. Blue Trust Inc. boosted its holdings in Fifth Third Bancorp by 318.2% in the third quarter. Blue Trust Inc. now owns 6,749 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 5,135 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Fifth Third Bancorp by 6.2% in the third quarter. Sequoia Financial Advisors LLC now owns 13,845 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $44.35 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 1 year low of $33.03 and a 1 year high of $49.07. The business has a fifty day simple moving average of $43.62 and a 200 day simple moving average of $43.58. The firm has a market cap of $29.74 billion, a price-to-earnings ratio of 14.12, a P/E/G ratio of 1.43 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.34%. Fifth Third Bancorp’s dividend payout ratio is 47.13%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a research note on Monday, February 10th. Citigroup increased their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $53.00 price objective (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Barclays raised their price objective 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. Finally, StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, November 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. According to MarketBeat.com, Fifth Third Bancorp 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.