Equitable Trust Co. Makes New Investment in Fifth Third Bancorp (NASDAQ:FITB)

Equitable Trust Co. acquired a new stake in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,139 shares of the financial services provider's stock, valued at approximately $725,000.

Other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the 4th quarter worth about $25,000. Venturi Wealth Management LLC raised its holdings in shares of Fifth Third Bancorp by 89.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 669 shares of the financial services provider's stock worth $29,000 after acquiring an additional 316 shares during the last quarter. Y.D. More Investments Ltd raised its holdings in shares of Fifth Third Bancorp by 118.5% in the 4th quarter. Y.D. More Investments Ltd now owns 828 shares of the financial services provider's stock worth $35,000 after acquiring an additional 449 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth about $36,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Fifth Third Bancorp in the 3rd quarter worth about $39,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FITB shares. Wells Fargo & Company upped their target price on shares of Fifth Third Bancorp from $52.00 to $54.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Citigroup upped 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. Baird R W downgraded shares of Fifth Third Bancorp from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 21st. Keefe, Bruyette & Woods upped their price objective on shares of Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Finally, Barclays upped their price objective on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the stock an "overweight" rating in a research report 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 company's stock. Based on data from MarketBeat, Fifth Third Bancorp has a consensus rating of "Hold" and a consensus price target of $46.75.

Fifth Third Bancorp Stock Performance

Shares of Fifth Third Bancorp stock traded up $0.48 on Friday, reaching $44.06. 4,676,808 shares of the company traded hands, compared to its average volume of 4,683,563. Fifth Third Bancorp has a 52 week low of $33.03 and a 52 week high of $49.07. The company has a 50 day moving average of $43.77 and a 200 day moving average of $43.49. The firm has a market capitalization of $29.54 billion, a PE ratio of 14.03, a PEG ratio of 1.44 and a beta of 1.23. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Tuesday, December 31st. Fifth Third Bancorp's dividend payout ratio (DPR) is presently 47.13%.

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.