Asset Management One Co. Ltd. Has $11.40 Million Stock Holdings in Fifth Third Bancorp (NASDAQ:FITB)

Asset Management One Co. Ltd. boosted its position in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 3.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 265,622 shares of the financial services provider's stock after purchasing an additional 8,144 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Fifth Third Bancorp were worth $11,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kentucky Trust Co bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $987,000. Axecap Investments LLC increased its stake in shares of Fifth Third Bancorp by 7.7% in the 4th quarter. Axecap Investments LLC now owns 54,391 shares of the financial services provider's stock valued at $2,300,000 after acquiring an additional 3,873 shares during the last quarter. Sapient Capital LLC increased its stake in shares of Fifth Third Bancorp by 1,334.4% in the 4th quarter. Sapient Capital LLC now owns 302,550 shares of the financial services provider's stock valued at $12,904,000 after acquiring an additional 281,458 shares during the last quarter. Equitable Trust Co. bought a new stake in shares of Fifth Third Bancorp in the 4th quarter valued at about $725,000. Finally, Savant Capital LLC increased its stake in shares of Fifth Third Bancorp by 10.6% in the 4th quarter. Savant Capital LLC now owns 21,906 shares of the financial services provider's stock valued at $926,000 after acquiring an additional 2,104 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FITB shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $47.00 price target on shares of Fifth Third Bancorp in a research note on Monday, February 10th. 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 research note on Thursday, January 23rd. Citigroup increased their target price on Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Piper Sandler reissued an "overweight" rating and set a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods increased their target price on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $46.75.

Fifth Third Bancorp Stock Down 1.7 %

Shares of NASDAQ FITB traded down $0.74 during trading hours on Thursday, hitting $43.61. The company had a trading volume of 3,464,780 shares, compared to its average volume of 4,594,460. The stock has a market capitalization of $29.24 billion, a P/E ratio of 13.89, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Fifth Third Bancorp has a 1-year low of $33.03 and a 1-year high of $49.07. The firm's 50 day moving average is $43.59 and its 200-day moving average is $43.58.

Fifth Third Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp's payout ratio is presently 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.