Fifth Third Bancorp (NASDAQ:FITB) Stake Lowered by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 352,229 shares of the financial services provider's stock after selling 11,040 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Fifth Third Bancorp worth $14,892,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FITB. Boston Common Asset Management LLC grew 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 worth $13,079,000 after purchasing an additional 34,203 shares in the last quarter. QRG Capital Management Inc. grew 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 worth $3,078,000 after purchasing an additional 9,444 shares in the last quarter. Lockheed Martin Investment Management Co. acquired a new position in Fifth Third Bancorp in the fourth quarter worth about $9,878,000. Mirae Asset Global Investments Co. Ltd. grew 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 worth $19,776,000 after purchasing an additional 55,081 shares in the last quarter. Finally, Smith Group Asset Management LLC acquired a new position in Fifth Third Bancorp in the fourth quarter worth about $423,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Fifth Third Bancorp Price Performance

NASDAQ:FITB traded down $0.74 during midday trading on Thursday, hitting $43.61. 3,464,780 shares of the stock were exchanged, compared to its average volume of 4,594,460. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $29.24 billion, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.44 and a beta of 1.23. Fifth Third Bancorp has a one year low of $33.03 and a one year high of $49.07. The business has a 50-day moving average price of $43.59 and a two-hundred day moving average price of $43.58.

Fifth Third Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 annualized dividend and a yield of 3.39%. Fifth Third Bancorp's dividend payout ratio (DPR) is 47.13%.

Analyst Ratings Changes

A number of research firms recently commented on FITB. Citigroup lifted their price target 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 restated an "overweight" rating and issued a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a research note on Wednesday, January 22nd. StockNews.com downgraded Fifth Third Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, November 6th. DA Davidson lifted their target price on Fifth Third Bancorp from $49.00 to $50.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Finally, Barclays lifted their target price on Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. One 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. Based on data from MarketBeat, the stock presently 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.