Fifth Third Bancorp (NASDAQ:FITB) Shares Purchased by Vest Financial LLC

Vest Financial LLC grew its stake in shares of Fifth Third Bancorp (NASDAQ:FITB) by 24.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 818,324 shares of the financial services provider’s stock after acquiring an additional 160,889 shares during the period. Vest Financial LLC’s holdings in Fifth Third Bancorp were worth $34,599,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FITB. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp during the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its position in Fifth Third Bancorp by 89.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 316 shares in the last quarter. Y.D. More Investments Ltd raised its stake in Fifth Third Bancorp by 118.5% during the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 449 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the third quarter valued at $36,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Fifth Third Bancorp by 56.9% in the third quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock worth $37,000 after buying an additional 312 shares during the period. 83.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FITB shares. Truist Financial increased their price objective on Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Citigroup increased their price target on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Baird R W downgraded shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. StockNews.com downgraded shares of Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $47.00 price target on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $46.75.

Fifth Third Bancorp Stock Down 0.6 %

FITB opened at $44.04 on Friday. Fifth Third Bancorp has a twelve month low of $32.29 and a twelve month 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 business has a 50 day moving average price of $44.14 and a 200 day moving average price of $43.41. The firm has a market cap of $29.53 billion, a P/E ratio of 14.03, a price-to-earnings-growth 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 issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

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.