abrdn plc Has $10.97 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

abrdn plc cut its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 7.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 258,626 shares of the financial services provider's stock after selling 19,909 shares during the period. abrdn plc's holdings in Fifth Third Bancorp were worth $10,972,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FITB. Boston Common Asset Management LLC lifted its stake in Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock valued at $13,079,000 after acquiring an additional 34,203 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Fifth Third Bancorp by 15.1% in the third quarter. QRG Capital Management Inc. now owns 71,858 shares of the financial services provider's stock valued at $3,078,000 after acquiring an additional 9,444 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Fifth Third Bancorp by 13.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 460,549 shares of the financial services provider's stock valued at $19,776,000 after acquiring an additional 55,081 shares during the last quarter. Smith Group Asset Management LLC acquired a new stake in Fifth Third Bancorp in the fourth quarter valued at approximately $423,000. Finally, Icon Wealth Advisors LLC acquired a new stake in Fifth Third Bancorp in the third quarter valued at approximately $541,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Fifth Third Bancorp Price Performance

Shares of FITB traded up $0.67 during trading hours on Tuesday, hitting $44.00. The stock had a trading volume of 3,676,147 shares, compared to its average volume of 4,722,605. The company's fifty day moving average is $43.97 and its two-hundred day moving average is $43.47. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. Fifth Third Bancorp has a 52 week low of $32.29 and a 52 week high of $49.07. The stock has a market capitalization of $29.50 billion, a price-to-earnings ratio of 14.01, a P/E/G 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. Investors of record on Tuesday, December 31st were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.36%. Fifth Third Bancorp's dividend payout ratio (DPR) is 47.13%.

Analyst Ratings Changes

A number of research firms have issued reports on FITB. Keefe, Bruyette & Woods lifted their target price on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. DA Davidson boosted their price objective on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Citigroup boosted their price objective on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. StockNews.com cut shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. Finally, Truist Financial boosted their price objective on shares of Fifth Third Bancorp from $51.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Fifth Third Bancorp 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.