Fifth Third Bancorp (NASDAQ:FITB) Shares Bought by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC lifted its stake in Fifth Third Bancorp (NASDAQ:FITB) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 59,944 shares of the financial services provider’s stock after acquiring an additional 848 shares during the quarter. Sonora Investment Management Group LLC’s holdings in Fifth Third Bancorp were worth $2,534,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FITB. Retirement Wealth Solutions LLC purchased a new position in Fifth Third Bancorp in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC increased its position 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 worth $29,000 after purchasing an additional 316 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Fifth Third Bancorp in the 3rd quarter valued at about $36,000. Hexagon Capital Partners LLC boosted its position in shares of Fifth Third Bancorp by 56.9% in the 3rd quarter. Hexagon Capital Partners LLC now owns 860 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 312 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in Fifth Third Bancorp during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Fifth Third Bancorp Price Performance

FITB stock opened at $44.49 on Friday. The company has a market capitalization of $29.83 billion, a PE ratio of 14.17, a P/E/G ratio of 1.44 and a beta of 1.24. 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’s 50 day moving average is $44.61 and its two-hundred day moving average is $43.27. Fifth Third Bancorp has a 52-week low of $32.29 and a 52-week high of $49.07.

Fifth Third Bancorp Announces Dividend

The business also recently announced 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 was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.33%. Fifth Third Bancorp’s dividend payout ratio (DPR) is presently 47.13%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FITB shares. Citigroup raised their target price 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. Keefe, Bruyette & Woods raised their price target on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Baird R W cut Fifth Third Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 21st. Truist Financial increased their target price 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. Finally, Wells Fargo & Company upped their price objective on Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Fifth Third Bancorp presently has a consensus rating of “Hold” and a consensus price target of $46.75.

About Fifth Third Bancorp

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.