Empowered Funds LLC Sells 112,851 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Empowered Funds LLC lowered its stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 89.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,948 shares of the financial services provider's stock after selling 112,851 shares during the period. Empowered Funds LLC's holdings in Fifth Third Bancorp were worth $547,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC bought a new position in shares of Fifth Third Bancorp in the 3rd quarter worth approximately $69,000. Creative Planning lifted its stake in shares of Fifth Third Bancorp by 1.8% in the 3rd quarter. Creative Planning now owns 236,317 shares of the financial services provider's stock worth $10,124,000 after purchasing an additional 4,116 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Fifth Third Bancorp by 5.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 8,531 shares of the financial services provider's stock worth $365,000 after purchasing an additional 426 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Fifth Third Bancorp by 23.9% in the 3rd quarter. Global Retirement Partners LLC now owns 9,325 shares of the financial services provider's stock worth $399,000 after purchasing an additional 1,796 shares during the period. Finally, Bleakley Financial Group LLC lifted its stake in shares of Fifth Third Bancorp by 5.7% in the 3rd quarter. Bleakley Financial Group LLC now owns 13,489 shares of the financial services provider's stock worth $578,000 after purchasing an additional 727 shares during the period. Institutional investors own 83.79% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FITB. Royal Bank of Canada reissued an "outperform" rating and issued a $47.00 target price on shares of Fifth Third Bancorp in a report on Monday, February 10th. Citigroup increased their target price on shares of Fifth Third Bancorp from $43.00 to $52.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Piper Sandler reissued an "overweight" rating and issued a $53.00 target price (down from $54.00) on shares of Fifth Third Bancorp in a report on Wednesday, January 22nd. StockNews.com lowered shares of Fifth Third Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, November 6th. Finally, Barclays increased their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Fifth Third Bancorp presently has a consensus rating of "Hold" and a consensus target price of $46.75.

Fifth Third Bancorp Price Performance

Shares of NASDAQ FITB traded down $0.73 during midday trading on Friday, reaching $42.88. 4,326,728 shares of the stock traded hands, compared to its average volume of 4,586,583. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $28.75 billion, a PE ratio of 13.66, 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 company's 50 day moving average is $43.55 and its 200 day moving average is $43.58.

Fifth Third Bancorp Dividend Announcement

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 $0.37 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.48 dividend on an annualized basis and a yield of 3.45%. Fifth Third Bancorp's dividend 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.