OLD National Bancorp IN Boosts Position in Fifth Third Bancorp (NASDAQ:FITB)

OLD National Bancorp IN raised its position in shares of Fifth Third Bancorp (NASDAQ:FITB) by 9.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,828 shares of the financial services provider’s stock after purchasing an additional 2,549 shares during the quarter. OLD National Bancorp IN’s holdings in Fifth Third Bancorp were worth $1,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FITB. Retirement Wealth Solutions LLC purchased a new position in shares of Fifth Third Bancorp in the fourth quarter worth approximately $25,000. Venturi Wealth Management LLC raised 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 worth $29,000 after acquiring an additional 316 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of Fifth Third Bancorp during the 3rd quarter worth $36,000. Hexagon Capital Partners LLC grew its position in shares of Fifth Third Bancorp by 56.9% during the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays boosted their price target on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup increased their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Truist Financial lifted their price target on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company increased their price objective on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 target price (down previously from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. One equities research 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. According to MarketBeat.com, Fifth Third Bancorp has a consensus rating of “Hold” and a consensus target price of $46.75.

Fifth Third Bancorp Trading Down 0.4 %

Shares of FITB opened at $44.31 on Friday. The stock has a market capitalization of $29.71 billion, a PE ratio of 14.11, a P/E/G ratio of 1.44 and a beta of 1.24. The company’s fifty day moving average is $44.55 and its 200 day moving average is $43.28. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07.

Fifth Third Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued 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 3.34%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

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.