Walter & Keenan Wealth Management LLC IN ADV Sells 489 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Walter & Keenan Wealth Management LLC IN ADV trimmed its position in Fifth Third Bancorp (NASDAQ:FITB) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,933 shares of the financial services provider’s stock after selling 489 shares during the quarter. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Fifth Third Bancorp were worth $1,181,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Retirement Wealth Solutions LLC acquired a new stake in Fifth Third Bancorp in the 4th quarter valued at $25,000. Venturi Wealth Management LLC lifted its holdings in shares of Fifth Third Bancorp by 89.5% during the third quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 316 shares during the period. Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at $36,000. Y.D. More Investments Ltd grew its holdings in shares of Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 449 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp during the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analysts Set New Price Targets

FITB has been the topic of several research analyst reports. Baird R W cut shares of Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 21st. StockNews.com lowered Fifth Third Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 price objective on shares of Fifth Third Bancorp in a research report on Wednesday, January 22nd. DA Davidson increased their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Finally, Citigroup lifted their price target on Fifth Third Bancorp from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One equities research 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, the stock has an average rating of “Hold” and an average target price of $46.75.

Fifth Third Bancorp Stock Down 0.6 %

Shares of Fifth Third Bancorp stock opened at $44.04 on Monday. Fifth Third Bancorp has a 12 month low of $32.29 and a 12 month high of $49.07. The business has a fifty day simple moving average of $44.06 and a 200 day simple moving average of $43.45. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a market cap of $29.53 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Announces Dividend

The business also recently declared 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 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.