Empirical Finance LLC Sells 331 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Empirical Finance LLC lowered its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 23,275 shares of the financial services provider’s stock after selling 331 shares during the quarter. Empirical Finance LLC’s holdings in Fifth Third Bancorp were worth $984,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Retirement Wealth Solutions LLC bought a new stake in Fifth Third Bancorp in the fourth quarter valued at $25,000. Venturi Wealth Management LLC grew its stake in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider’s stock valued at $29,000 after buying an additional 316 shares during the period. Legacy Investment Solutions LLC bought a new stake in Fifth Third Bancorp in the 3rd quarter valued at about $36,000. 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 worth $35,000 after buying an additional 449 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new position in Fifth Third Bancorp in the third quarter worth approximately $39,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

Shares of NASDAQ:FITB opened at $43.33 on Tuesday. Fifth Third Bancorp has a fifty-two week low of $32.29 and a fifty-two week high of $49.07. The company’s 50-day moving average is $44.06 and its 200 day moving average is $43.46. 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 company has a market capitalization of $29.05 billion, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

Fifth Third Bancorp Dividend Announcement

The business also recently announced 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. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp’s dividend payout ratio is currently 47.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup upped 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. Truist Financial raised their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Barclays boosted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. DA Davidson raised their price target on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price objective on shares of Fifth Third Bancorp in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.75.

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.