UMB Bank n.a. Raises Stake in Fifth Third Bancorp (NASDAQ:FITB)

UMB Bank n.a. boosted its holdings in Fifth Third Bancorp (NASDAQ:FITB) by 3.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,442 shares of the financial services provider’s stock after acquiring an additional 570 shares during the quarter. UMB Bank n.a.’s holdings in Fifth Third Bancorp were worth $780,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boston Common Asset Management LLC grew its stake in shares of Fifth Third Bancorp by 12.4% in the 4th quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider’s stock worth $13,079,000 after buying an additional 34,203 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider’s stock worth $3,078,000 after acquiring an additional 9,444 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Fifth Third Bancorp by 13.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider’s stock valued at $19,776,000 after acquiring an additional 55,081 shares in the last quarter. Icon Wealth Advisors LLC purchased a new position in shares of Fifth Third Bancorp in the 3rd quarter worth about $541,000. Finally, Nordea Investment Management AB boosted its stake in Fifth Third Bancorp by 8.9% in the 4th quarter. Nordea Investment Management AB now owns 666,028 shares of the financial services provider’s stock worth $28,286,000 after purchasing an additional 54,463 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Fifth Third Bancorp Trading Up 1.2 %

Fifth Third Bancorp stock opened at $44.86 on Wednesday. Fifth Third Bancorp has a 12-month low of $32.29 and a 12-month high of $49.07. The firm has a market capitalization of $30.08 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.93 and a beta of 1.24. The firm has a 50 day moving average of $44.96 and a 200 day moving average of $42.95. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.92.

Fifth Third Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a dividend yield of 3.30%. Fifth Third Bancorp’s payout ratio is 49.17%.

Insider Activity at Fifth Third Bancorp

In related news, EVP Kristine R. Garrett sold 7,500 shares of Fifth Third Bancorp stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $43.67, for a total transaction of $327,525.00. Following the sale, the executive vice president now owns 55,913 shares of the company’s stock, valued at approximately $2,441,720.71. This trade represents a 11.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. Wells Fargo & Company upped their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Barclays lifted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Piper Sandler increased their price objective on Fifth Third Bancorp from $49.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Citigroup boosted their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Fifth Third Bancorp presently has an average rating of “Hold” and a consensus price target of $45.92.

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.